STATISTICS: GREECE, FY2017: The positive rates reported on non-life side, maintained the market at the 2016 size

28 February 2018 — Vlad BOLDIJAR
According to the year-end market figures published by HAIC - the Hellenic Association of Insurance Companies, the Greek insurance market totalled EUR.3.78 billion at the end of 2017, up by 0.05% y-o-y.

The life insurance segment decreased by 2% y-o-y to EUR 1.87 billion, due the negative rate reported by the traditional life policies (-4.1% y-o-y to EYR 1.36 billion).

In case of non-life business line, Greek insurers generated about EUR 1.91 billion in GWP, 2.14% more y-o-y. Except the property insurance subclass (a decrease in annual GWP by 4%), all main non-life classes reported growth-rates.

The result takes into consideration 50 HAIC members, of which 20 were active in life insurance (99.9% market share of FY 2016 life GWP) and 44 were active in the Non-life insurance (94.6% market share). " All insurance enterprises - members, which are established in Greece, participated, while the ones operating under freedom of service (F.O.S.) did not", announced HAIC.

Access and download the FY2017 Greece insurance market statistics.
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