STATISTICS: GREECE, 1H2019: Greek insurance market reported more than EUR 2 billion in first half GWP

3 October 2019 — Andrei Victor
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).

The non-life insurance segment slightly decreased by 0.7% y-o-y to EUR 1.05 billion, due the negative rates reported by Motor TPL and the two property subclasses, while the life insurance business line increased by almost 10% to EUR 949 million - influenced by the positive dynamic reported by the policies linked to investment funds (+30%).

The H1 2019 market results published by HAIC include the figures for 52 insurance companies of which 19 were active in life insurance (and accounted for 94.8% of the segment market's full data for 2017) and 44 were active in non-life insurance (99.9% market share).

For the next period, the "ETHNIKI problem" seems to return to the forefront, local media noting that the sale process is set to start this autumn - and is expected to be completed within the first quarter of 2020, National Bank expecting to collect about EUR 500 million from the transfer of up to 80% of its insurance arm, below what EXIN had proposed past year when it was selected as the preferred bidder in the original tender.

Having made considerable investments in the local financial sector and beyond, many rumors are related the possible acquisition of insurance company ETHNIKI Asfalistiki by FAIRFAX Group.

Access and download H1 Greece insurance market statistics.

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