News - Insurance

STATISTICS: GREECE 3Q2024: Impressive increase in life insurance linked to investment funds

Q3 2024 preliminary insurance market figures published by HAIC - Hellenic Association of Insurance Companies, shows that at the end of September 2024, the Greek insurance market totaled EUR 4.19 billion, up by 10.8% y-o-y.

The non-life insurance segment increased by 11.2% y-o-y to EUR 2.17 billion - of which EUR 586.7 million - MTPL, EUR 244 - MoD, EUR 484.2 - property, while the life insurance business line was up by 10.4% to EUR 2.02 billion - due the 21.1% increase posted by life insurance linked to investment funds.

The market figures published by HAIC include the figures for 48 insurers, of which 43 were active in Non-Life insurance and 15 in Life insurance. Of the 48 insurance enterprises, 26 were established in Greece in the form of S.A. Insurance Company, 1 in the form of mutual insurance cooperative, 15 as EU branches and 6 FOS insurers.

Access XPRIMM Database and download latest Greece insurance market statistics.





The Spanish DANA: insures losses expected to reach EUR 3.5 billion

The total economic losses from the DANA (Depresión Aislada en Niveles Altos) floods in Spain in 2024 were estimated to EUR 12 - 13 billion, while Spain’s public/private Consortium for Insurance Compensation (CCS), said it would payout at least EUR 3.5 billion, an analysis provided by Moody’s said.

Call for sustainable solutions: Navigating the repair challenges of electric cars

The insurance industry supports the transition away from internal combustion engines (ICEs). Indeed, given the challenges posed by the accelerating pace of climate change, driving cars that no longer run on fossil fuels is the only right choice for us as a society, maybe even the only possible choice. As insurers, we are taking positive action to shape this change notably by providing loss prevention advice and monitoring the effects of electric cars on motor insurance.


Hungary: home insurance premiums increased, in average, by 19% y-o-y in Q3 2024

The consumer-friendly home insurance policies offer significant advantages compared to other market options. Their average premium is 22% lower than the average annual premium for fully insured residential properties and amounts to HUF 50,800, according to the Hungarian National Bank’s Q3 2024 Home Insurance Index.

Hungary: the average MTPL premium grew twice as fast as claims expenses in Q3

In Q3 2024, the average annual premium for mandatory MTPL insurance for standard-use passenger cars in Hungary rose by 10% y-o-y, reaching HUF 58,000, said the National Bank of Hungary. Claims costs rose by half as much, and there was no growth in claims expenses during the last quarter. With inflation declining, a smaller increase would have been justified.


New UNIQA strategy announced: Profitable growth, progressive dividends

UNIQA’s new “Growing Impact 2025 – 2028” strategy announced today aims for an average premium growth of 5%/year and net combined ratio consistently below 94%; annual growth in consolidated profit of > 6% and a stable and sustainable ROE after taxes of over 12%, as well as an annual increase in dividend per share.



Aon announced new appointments

Aon, a leading global professional services firm, named Robert O’Connell as global cyber strategy and growth leader, executive managing director, within its Reinsurance Solutions business. O’Connell will be based in New York and report to Randy Stanco, U.S. strategic business leader for Reinsurance Solutions.