STATISTICS: GREECE, HAIC: Insurance market dropped by almost 6% in 2015

18 February 2016 — Vlad BOLDIJAR
At the end of December 2015, the Greek insurance market totaled EUR 3.57 billion, down by 5.8% y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC).

The life insurance segment decreased by 3.9% y-o-y to EUR 1.79 billion, while the non-life business line dropped by 7.6% to EUR 1.81 billion.

On the life segment, the unit-linked products generated the largest decrease (-18% y-o-y), while of all 18 non-life subclasses, the highest negative rate was reported in case of Motor TPL insurance: -13.7%.

The preliminary market results published by HAIC include the figures for 57 insurance companies accounting for 95.8% of the insurance market's full data for 2014. Of these, 21 were active on the life segment (97.4% market share) and 47 were active in the non-life segment (94.4% market share).

HAIC noted in the report that all member companies, which are established in Greece, were taken into account, while the insurers operating under freedom of service (F.O.S.) were excluded.

Access and download FY2015 Greece insurance market statistics.