Greece
SSL Endeavour rebranded to OneGlobal Insurance Broking, in Greece & Cyprus
SSL Endeavour in Greece & Cyprus has now officially rebranded to OneGlobal Insurance Broking Ltd in full alignment with the Group's businesses globally. The group's rebranding operation started in June 2020, announcing ambitious plans for organic growth and the acquisition of like-minded broking businesses and talented individuals.
15 February 2021GENERALI consolidates its presence in Greece with the acquisition of AXA's units
Global insurers AXA and GENERALI announced that they entered into an agreement on the Greek market. Under the terms of the agreement, AXA will sell its Life & Savings and Property & Casualty businesses in the country to GENERALI for a consideration of EUR 165 million, representing a multiple of 12.2 times 2019 earnings, subject to closing adjustments.
7 January 2021STATISTICS: GREECE, 3Q2020: Insurance market decreased by 4.5% due to life segment fall
According to the 3Q preliminary insurance market figures published by HAIC - Hellenic Association of Insurance Companies, at the end of September 2020, the local insurance market totaled EUR 2.87 billion, down by 4.5% y-o-y.
19 November 2020GREECE: The ETHNIKI investor to include in contract a target clause
National Bank of Greece is in advanced talks with CVC Capital Partners about the sale of ETHNIKI Insurance - the largest insurance company in Greece. The value of the transaction of sale of 80% of Greek insurer - mentioned by media is around EUR 460-480 million.
20 October 2020STATISTICS: GREECE, 1H2020: Insurance market fell below the EUR 2 billion threshold at the end of June
At the end of June 2020, the Greek insurance market totaled EUR 1.93 billion, down by 4.5% y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC).
10 September 2020AXA is in talks to sell its Greek operations to GENERALI, market rumors say
French insurer AXA is in talks to sell its Greek operations to Italian group Assicurazioni GENERALI, Blomberg reports citing sources, "as part of its plans to ditch business lines deemed surplus to requirements".
19 August 2020STATISTICS: GREECE 1Q2020: Greek market decreased by 1.6% y-o-y, HAIC figures show
HAIC - the Hellenic Association of Insurance Companies has published the preliminary figures of the local insurance market. According to the data of the member insurance companies, the value of Q1 2020 aggregate GWP - life and non-life insurance, added-up, decreased by 1.6% y-o-y to EUR 988 million.
25 June 2020GREECE: tackling the uninsured cars issue needs more drastic measures
The number of uninsured vehicles in Greece is of about 586 thousand, Dimitris Zorbas, president of the cars division of the Association of Greek Insurance Companies stated recently referring to statistical data for 2018-2020, The National Herald reported.
25 June 2020STATISTICS: SEE region, FY2019: Regional insurance market expanded to more than EUR 15 billion at the end of the year
At the end of 2019 the SEE insurance market (the region formed by Cyprus, Greece and Turkey) totaled about EUR 15.3 billion in terms of GWP, 12.5% more y-o-y, according to preliminary figures centralized by XPRIMM.
21 May 2020GREECE: No casualties reported after the major Crete earthquake
A 6.0 magnitude quake struck off on Saturday May 2nd, the Greek island of Crete - which is a popular holiday destination - but there were no reports of casualties or damage. "It was not immediately known the level of damage or injuries on the island, which is one of Grece's biggest, but experts believe it is minimal", wrote reuters.
6 May 2020NBG has postponed the sale of ETHNIKI Asfalisitiki on Coronavirus pandemic
The National Bank of Greece (NBG) putted its insurance unit sale on hold after "the Coronavirus pandemic dashed any lingering hopes of a successful auction", wrote bloomberg quoting people familiar with the matter.
15 April 2020STATISTICS: GREECE, FY2019: insurance market passed the EUR 4 billion threshold
According to the year-end market figures published by HAIC - the Hellenic Association of Insurance Companies, the Greek insurance market totalled EUR 4.07 billion at the end of 2019, up by 8.7% y-o-y.
27 February 2020STATISTICS: SEE, 3Q2019: regional market expanded more than a quarter in Q3 2019 to EUR 11.5 billion
At the end of 3Q2019, the SEE insurance market (inclusing Cyprus, Greece and Turkey) totaled about EUR 11.5 billion in GWP, 26.44% more y-o-y, according to preliminary figures centralized by XPRIMM.
23 January 2020GREECE: life insurance grew by over 19% in the first 10 months of 2019
For the period between January and October 2019, life insurance had a positive trend. According to the data of EAEE (The Association of Insurance Companies of Greece), the Greek life sector saw a 19.1% rise y-o-y, reaching EUR 1.65 billion.
7 January 2020Ethniki Asfalisitiki: a new chapter in the Greek's insurance market flagship sale
Latest news available show the group of bidders interested by the sale of the leading Greek insurance company Ethniki to five: the Chinese group Fosun, the investment funds CVC Capital Partners, Centerbridge and Lone Star, and a special purpose vehicle called I3CP, which is associated with Leadenhall Capital Partners.
11 December 2019STATISTICS: GREEK insurance market expanded to EUR 3 billion at the end of September
The Greek insurers reported aggregate GWP of EUR 3 billion at the end of September 2019, up by 7.8% y-o-y, according to the nine-months market report published by the Hellenic Association of Insurance Companies (HAIC).
5 December 2019GREECE: Hellenic Bank to purchase MetLife's shares in Alico
Hellenic Bank signed a share-purchase agreement with MetLife Services Cyprus Limited for the acquisition of the entire participation interest of MetLife (equal to 27,5%) in the share capital of Hellenic Alico Life Insurance Company Limited.
1 November 2019GREECE: 4 bidders for a new attempt to sell ETHNIKI
A new round of bids to sell Ethniki was initiated, this time with the deadline set to the end of Q1 2020, for 80% stake in the national company, valued at EUR 658 million, Insurance Daily reports.
24 October 2019STATISTICS: GREECE, 1H2019: Greek insurance market reported more than EUR 2 billion in first half GWP
At the end of June 2019, the Greek insurance market totaled EUR 2 billion, up by 3.9% y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC).
3 October 2019STATISTICS: GREECE, January-April update: property insurance significantly affects the decline of non-life
According to the Hellenic Association of Insurance Companies (HAIC), the local insurance market grew by 2.2% y-o-y from January-April 2019. Total GWP reached EUR 1.3 billion by the end of April.
18 July 2019
