For the first four months of this year, life insurance increased by 7.4% y-o-y, reported insuranceworld.gr and Insurancedaily.gr according to EAEE (Association of Insurance Companies of Greece).
On May 28, the 12th Insurance Conference was held in Greece with participation of top insurance market executives and institutional players in the country, in collaboration with the financial & business portal banks.com.gr, the portal Insuranceworld.gr, and the magazine, Insurance World.
The global trade credit insurance COFACE announced the launch of its credit insurance offer in Greece, after being granted a license from the Greek regulatory authority to operate as credit insurer.
Greece-based Aegean Insurance will start using the Finland-based Tieto "Insurance-in-a-Box" platform to become a leading innovator in the Greek insurance market.
During 1993-2018, Greece insurers paid EUR 359 million for natural catastrophes claims. The 1999 earthquake was by far the most devastating and costly natural disaster, when a total of EUR 111 million in insurance indemnities were paid to the victims.
The insurance market of Greece totaled EUR 3.19 billion at the end of December 2018, up by 1.8% y-o-y, according to the preliminary figures published by the Hellenic Association of Insurance Companies (HAIC).
The Greek central bank's Credit and Insurance Committee announced it has banned the proposed acquisition of a 100% stake in Credit Agricole Life by the Bulgarian Euroins Insurance Group (EIG).
After the failure of the previously announced acquisition attempts made by Fosun, Exin or Gongbao, it seems that a new opportunity to sell Ethniki - Hellenic General Insurance Co. presented itself to National Bank of Greece, with a bid launched by a consortium led by Hannover Re S.E.
The Greek insurers reported aggregate GWP of EUR 2.87 billion at the end of September 2018, up by 2.1% y-o-y, according to the nine-months market report published by the Hellenic Association of Insurance Companies (HAIC).
The National Bank of Greece (NBG) and the owner of the largest and the oldest Greek insurer - Ethniki - will ask the EU for more time to complete the planned asset sale under the EU-approved restructuring plan, according to sources quoted by international media.
GONGBAO was the only bidder in the final stage of binding financial offers for the buyout of a 75% stake in Greece's leading insurer.
Greek insurers will pay over EUR 33.7 million in compensation for the devastating fires that hit Attica on 23 July 2018, according to the first estimate of the Hellenic Insurance Companies Association (EAEE).
At the end of March 2018, the Greek insurance market totaled EUR 999.5 million, up by 3.5% y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC).
The exit comes after the collapse of the Ethniki sale to Exin and the failure of another deal.