STATISTICS: GREECE, 3Q2015: The decreases reported on motor classes pushed the market down by 3.6% y-o-y

The Greek insurers reported gross written premiums of EUR 2.72 billion in 3Q2015, down by 3.6% y-o-y, according to a quarterly report published by the Hellenic Association of Insurance Companies (HAIC). Non-life insurance GWP accounted for 51% of the total - EUR 1.38 billion, or 8% less y-o-y, while the life insurance sector was up by 1.4%, reaching EUR 1.33 billion (49% of total insurance market).

According to the HAIC Report, the main non-life sub-classes posted decreases - influencing strongly the market trend: motor hull (-9%), motor TPL (-15%), property (-0.4%).

On the other hand, the unit-linked products maintained the life sector "in black" reporting a 1.5% increase in GWP - to almost EUR 271 million. At the same time, the traditional life policies sub-segment was down by 1 percent to EUR 866 million.

HAIC's Report includes figures of 57 insurers or 95.8% in GWP of the total FY2014 market. Of these, 21 were active in Life insurance (97.4% market share) and 47 were active in the Non-life segment (94.4% market share).

Access www.xprimm.com and download 3Q2015 Greece insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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