Greece

Greece
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Greece
Location map
author: OCHA/ ReliefWeb


Location:
- Southern Europe;
- borders Ionian Sea and Mediterranean Sea;
- peninsular country, possessing an archipelago of about 3,000 islands, dominating the Aegean Sea and the southern entrance to the Turkish Straits;
- Neighbours: Cyprus, Turkey, Bulgaria, Macedonia, Albania, Italy.

Climate:
- Mediterranean climate with mild wet winters and hot, dry summers;
- snowfalls do occur occasionally during the winter.

Natural Hazards:
- severe earthquakes;
- droughts;
- wildfires.

Macro indicators
* 2018 estimates
Surface:131,957km2
Population*:10.7million
Pop. density*:81.4people/km2
GDP*:185.5EUR billion
GDP/capita*:17,274.8EUR

European Union:
EU member, since 1981

Currency: Euro
Code: EUR
Since: 2001


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:48%
TOTAL NON-LIFE*:52%
Overall Property*:11%
Overall Motor*:25%

Sources:



 

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.


STATISTICS: GREECE 1H2024: increased demand for property insurance

According to the half-year market figures published by HAIC - the Hellenic Association of Insurance Companies, the Greek insurance market totaled EUR 2.8 billion at the end of 1H2024, up by 6.7% y-o-y from EUR 2.63 billion a year before. The non-life insurance increased by 8.5% y-o-y, to EUR 1.44 billion, while in the case of life business lines, Greek insurers generated about EUR 1.37 billion in GWP, up by 4.90% y-o-y.








GREECE: Four LoBs bring additional EUR 300 million in premiums

Last year by the end of November four insurance LoBs saw over EUR 300 million premium increase. These are investment life insurance, which brought additional EUR 132.1 million, health insurance where premium production increased by EUR 95 million, fire insurance with additional EUR 50 million and vehicle insurance with EUR 36.4 million, insurancedaily.gr writes.