Greece
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Greece 3Q2020 Market Portfolio
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STATISTICS: GREECE, 1H2015: Life insurance maintained the market on a positive track
The Greek insurers reported a GWP of EUR 1.96 billion in the first half of 2015, as compared with EUR 1.92 billion a year earlier, according to the 1H2015 Report published by the Hellenic Association of Insurance Companies (HAIC). The Report published by HAIC includes the figures for 57 insurers accounting for 95.8% of the insurance market's full data for 2014. Of these, 21 were active in the life segment (97.4% market share) and 47 were active in the non-life segment (94.4% market share).
26 August 2015Insurers to weather GREECE-fuelled market volatility - AM Best
Euro zone insurers are well placed to weather volatility around a
potential Greek exit from the currency bloc, although contagion to other
countries would be more problematic, ratings agency AM Best said.
13 July 2015Ergo considers axing GREEK acquisition
Munich Re's insurance subsidiary Ergo has said it is considering
terminating its previously announced EUR90mn acquisition of Greek
bancassurer ATE Insurance from Piraeus Bank. In a statement
provided to The Insurance Insider, Ergo said it was in close contact
with the bank and that it was looking into the possible consequences of
"any change" to the political situation in Greece.
13 July 2015Holiday Extras upgrades cash cover for GREECE
People travelling to Greece this summer are being offered improved
insurance to cover extra cash they are being advised to take with them. The
move by Holiday Extras and underwriters Allianz and White Horse follows
advice from the Foreign and Commonwealth Office and Abta that
holidaymakers take additional funds with them as ATMs and banking
services may be limited.
9 July 2015Vacationers cautioned to purchase the right travel insurance when heading to GREECE
Vacationers
who have been planning to head to Greece are being warned that they
might want to take a second look at their travel insurance policies in
order to make sure that they will indeed have the types of coverage that
could be needed if the financial environment stats to collapse even
more than it already has.
9 July 2015GREECE: Insurance firms increase cash cover
Travel insurance companies are increasing cover to take account of the
extra cash that tourists will have to take to Greece this summer
following the shut down of its banking system.
6 July 2015Will GREECE go hungry if it exits the euro? That's a question for the insurance industry
The globalisation of food trade over the past few decades has made the
world food system better equipped to respond to small localised losses
in food production and feed a growing global population. It has arguably
also increased our exposure to systemic risks.
26 June 2015VODAFONE GREECE extends insurance to call centre employees
Vodafone Greece announced new insurance benefits for employees of 360
Connect, its call centre and back-office support unit. From 01 July, all
employees of the unit and their families will benefit from
hospitalisation and life/accident insurance.
15 June 2015STATISTICS: GREECE, Q1: Unit-linked policies maintained the local market in positive teritorry
The Greek insurers reported GWP of EUR 993 million in the first quarter of 2015, 0.7% more y-o-y, according to the 1Q2015 Report published by the Hellenic Association of Insurance Companies (HAIC). Non-life insurance premiums accounted for 50.2% of the total insurance premiums (EUR 498 million, 11.8% less y-o-y), while the life insurance segment accounted for the remainder of the market (EUR 495 million, or 17.5% more y-o-y).
28 May 2015STATISTICS: GREECE, FY2014: Life insurance UL policies maintained the insurance market at the 2013 level
In 2014, the Greek insurance market totaled EUR 3.8 billion, 0.6% less y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC). Non-life insurance GWP accounted for 51.8% of the total insurance premiums (EUR 1.97 billion, 9.6% less y-o-y), while the life insurance segment accounted for the remaining of the market (EUR 1.83 billion, or 11.4% more y-o-y).
5 March 2015STATISTICS: 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).
5 December 2014STATISTICS: GREECE 1H2014: unit-linked insurance products pushed the life segment back on a positive track
The Greek insurers reported a GWP of EUR 1.93 million in the first half of 2014, as compared with EUR 1.97 billion a year earlier, according to the 1H2014 Report published by the Hellenic Association of Insurance Companies (HAIC). In the analyzed period, the non-life insurance GWP accounted for 54.9% of the total (EUR 1.06 billion, 9% less y-o-y), while the life insurance segment accounted for the remainder of the market (~EUR 870 million, or 7.57% more y-o-y).
2 October 2014GREECE: ERGO to become the largest property-casualty insurer by acquiring ATE Insurance
The ERGO Insurance Group announced it has agreed to acquire 100% of the Greek company ATE Insurance, the property-casualty arm of PIRAEUS Bank - Greece's second-largest lender by assets. The purchase price is EUR 90.1 million, ERGO noted in a press release. The deal is pending regulatory approvals and is expected to be completed by the end of 2014.
21 August 2014GREECE, 1Q2014: GWP down by 2.4% y-o-y
The Greek insurers reported gross written premiums of EUR 986 million in the first quarter of 2014, as compared with EUR 1.01 billion a year earlier, according to the 1Q2014 Report published by the Hellenic Association of Insurance Companies (HAIC).
10 July 2014GREECE: ALLIANZ and ERGO interested in buying AGROTIKI
ALLIANZ SE - the largest European insurer and ERGO Versicherungsgruppe - the insurance unit of MUNICH Re - are in talks to buy the Greek insurer AGROTIKI Insurance - owned by PIRAEUS Bank, according to BLOOMBERG quoting three people familiar with the matter.
26 June 2014GREECE: Three million vehicles in Greece uninspected
It is estimated that some two million cars and one million motorbikes in
Greece have not had an annual check-up, while 300,000 vehicles are
uninsured. Meanwhile, as many as 500,000 fewer vehicles have been taxed
than last year, costing the Greek state around 400 million euros in lost
revenue.
6 May 2014The GREEK market closed the year with a 9.4% decrease y-o-y
In 2013, the Greek insurance market totaled EUR 3.84 billion, 9.4% less y-o-y, according to the figures presented by the Hellenic Association of Insurance Companies (HAIC). The life insurance segment decreased by 14.1% y-o-y to approximately EUR 1.64 billion, basically still being one of the most affected insurance business line by the global economic and Eurozone debt crises. For the future insurance analysts forecasted an increase for the life GWP, but this projection is subject to a gradual improvement in the economy.
27 February 2014730,000 Uninsured Vehicles in GREECE
A committee, including representatives of the Public Order, Transport,
Finance Ministries and the Greek Union of Insurance Companies, after
examining the databases of the Greek insurance companies and the
Transport Ministry, announced that the number of uninsured vehicles in
Greece amounts to 730,000.
25 February 2014GREECE: ERGO to take over the Bank of Cyprus' non-life insurer
General Insurance of Cyprus (GIC) - member of the Bank of Cyprus Group has entered into a cooperation agreement with ERGO in Greece, for the gradual transfer to ERGO of the existing insurance policies which were issued by KYPROU Asfalistiki - the branch of GIC in Greece.
30 January 2014GREECE: One mln cars circulating without insurance
Because of the impact of the economic crisis on household budgets, about
one million vehicles are currently in circulation in Greece without
insurance, Kathimerini online reports quoting Costas Bertsias, Chairman
of Car Insurance Companies Association in Greece.
24 January 2014XPRIMM Newsletter
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