STATISTICS: GREECE, 3Q2014: Life policies have slowed the insurance market decline to 1%

The Greek insurers reported gross written premiums of EUR 2.8 billion in 3Q2014, down 1% y-o-y, according to a Report published by the Hellenic Association of Insurance Companies (HAIC). The Report includes figures from 59 insurers, representing 94.4% of the market's GWP. Of these, 21 were activating on the life insurance segment (97.8% market share) and 48 were activating on the non-life segment (91.9% market share).

In the analyzed period, non-life insurance premiums accounted for 53.4%% of the total insurance premiums - EUR 1.5 billion, or 10% less y-o-y, due the double-digit decreases in almost all major non-life sub-segments: motor hull (-13.4%), damages to property (-10.6%), motor TPL (-13.4%), fire and allied perils (-7.8%), GTPL (-2.9%).

On the other hand, the life insurance segment increased 11.8% to EUR 1.3 billion (about 46.6% of total market). The traditional life policies increased 1 percent and generated about one third of total market (EUR 874 million), while the unit-linked products almost doubled its share the market due the 75% increase in GWP to EUR 267 million.

Access and download 3Q2014 Greece insurance market statistics.

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