The total contribution of the insurance sector in GDP amounts to EUR 2.5 billion, insurancedaily.gr writes with reference to the EAEE annual report (Hellenic Association of Insurance Companies) for 2023.

It is noted that the insurance industry creates 49.7 thousand jobs, at that every job in the private insurance segment supports another 5.7 jobs.

Contribution of private insurance to public revenue is EUR 1.12 billion total, according to the EAEE.

Private insurance, through the concentration and management of risks, provides essential support to society and the economy. The smooth and efficient operation of the insurance sector is a prerequisite for the development of many activities in industry, tourism, transport, and international trade. Insurance protection itself is a service that contributes to GDP, and insurance companies, by performing their core functions, create jobs in the economy, the report says.