1. The Insurance Industry in Greece, Key Trends and Opportunities
to 2016
Report Details:
Published:December 2012
No. of Pages: 142
Price: Single User License – US$1950
Synopsis
The report provides in depth industry analysis, information and insights into the insurance industry
in Greece, including:
• The Greek insurance industry’s growth prospects by insurance segments and sub-segments
• The competitive landscape in the Greek insurance industry
• The current trends and drivers of the Greek insurance industry
• The challenges facing the Greek insurance industry
• The regulatory framework of the Greek insurance industry
Summary
Greece has been in recession since 2008 and in 2011 the economy contracted by 6.9%. The
nation was granted two bailouts by the International Monetary Fund (IMF) and the EU. While the
first bailout was sanctioned in 2010, the second was ratified in February 2012. However, with
worsening economic conditions, the possibility of a third bailout, with loans of up to EUR44 billion
was agreed upon by Eurozone finance ministers in November 2012. The country is not expected
to return to positive growth until 2015, once the sovereign debt crisis begins to subside. The
growth of the Greek insurance industry is closely tied to the nation’s economic growth.
Consequently, its performance was adversely impacted by the country’s prolonged recession.
Scope
This report provides a comprehensive analysis of the insurance industry in Greece:
• It provides historical values for the Greek insurance industry for the report’s 2007–2011 review
period and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key segments and sub-segments in the Greek insurance
industry, along with forecasts until 2016
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio,
commissions and expenses, combined ratio, total assets, total investment income and retentions
• It profiles the top insurance companies in Greece and outlines the key regulations affecting them

2. Reasons To Buy
• Make strategic business decisions using in depth historic and forecast industry data related to
the Greek insurance industry and each segment within it
• Understand the demand-side dynamics, key trends and growth opportunities within the Greek
insurance industry
• Assess the competitive dynamics in the Greek insurance industry
• Identify the growth opportunities and market dynamics within key segments
• Gain insights into key regulations governing the Greek insurance industry and its impact on
companies and the industry''s future
Key Highlights
• Greece has been in recession since 2008 and in 2011 the economy contracted by 6.9%.
• The nation has been granted two bailouts by the International Monetary Fund (IMF) and the EU.
• While the first bailout was sanctioned in 2010, the second was ratified in February 2012.
• However, with worsening economic conditions, the possibility of a third bailout, with loans of up
to EUR44 billion was agreed upon by Eurozone finance ministers in November 2012.
• The country is not expected to return to positive growth until 2015, once the sovereign debt crisis
begins to subside.
• The growth of the Greek insurance industry is closely tied to the nation’s economic growth.
Consequently, its performance was adversely impacted by the country’s prolonged recession.
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2016.html
Major points covered in Table of Contents of this report include
Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Greek Insurance Industry Overview
3.1 Insurance Industry Overview
3.2 Greek Insurance Industry – Market Size, 2007–2016
3.3 Key Industry Trends and Drivers
3.4 Challenges
3.5 Regulation
4 Market Segmentation
4.1 Life Insurance Growth Prospects by Category
4.1.1 Individual life insurance category
4.1.2 Individual pension category
4.1.3 Individual unit-linked insurance category

3. 4.1.4 Other insurance category
4.1.5 Group life insurance category
4.2 Non-Life Insurance Growth Prospects by Category
4.2.1 Property insurance category
4.2.2 Motor insurance category
4.2.3 Liability insurance category
4.2.4 Marine, Aviation and Transit insurance category
4.3 Personal Accident and Health Insurance Growth Prospects by Category
4.3.1 Personal accident insurance category
4.3.2 Health insurance category
4.3.3 Travel insurance category
4.4 Reinsurance Market Size by Insurance Segment, 2007–2016
5 Competitive Landscape
5.1 Overview
5.2 Leading Companies
5.2.1 The Ethniki, Hellenic General Insurance Company SA – company overview
5.2.2 Interamerican Property and Casualty Insurance Co. SA – company overview
5.2.3 Agrotiki Insurance SA– company overview
5.2.4 Intersalonika SA– company overview
5.2.5 ING Greek Life Insurance Company SA – company overview
6 Macroeconomic Indicators
6.1 GDP at Constant Prices (US dollar)
6.2 GDP Per Capita at Constant Prices (US dollar)
6.3 GDP at Current Prices (US dollar)
6.4 Inflation Rate (%)
6.5 Arable Land
6.6 Market Capitalization Trend – Greece Stock Market, Greece
6.7 Exports as a Percentage of GDP
6.8 Imports as a Percentage of GDP
6.9 Number of Air Passengers
6.1 Healthcare Expenditure Per Capita
6.11 Employed Population
6.12 Annual Disposable Income
6.13 Annual Disposable Income Per Capita
6.14 Total Population
7 Appendix
7.1 Methodology
7.1 Contact Us
7.2 About Timetric
7.3 Disclaimer

4. List of Tables
Table 1: Insurance Industry Definitions
Table 2: Greek Insurance Overall Written Premium by Segment (EUR Billion), 2007–2011
Table 3: Greek Insurance Overall Written Premium by Segment (US$ Billion), 2007–2011
Table 4: Greek Insurance Overall Written Premium by Segment (EUR Billion), 2011–2016
Table 5: Greek Insurance Overall Written Premium by Segment (US$ Billion), 2011–2016
Table 6: Greek Insurance Segmentation (Percentage Share), 2007–2016
Table 7: Greek Life Insurance Written Premium by Category (EUR Billion), 2007–2011
Table 8: Greek Life Insurance Written Premium by Category (US$ Billion), 2007–2011
Table 9: Greek Life Insurance Written Premium by Category (EUR Billion), 2011–2016
Table 10: Greek Life Insurance Written Premium by Category (US$ Billion), 2011–2016
Table 11: Greek Life Insurance – Paid Claims (EUR Billion), 2007–2011
Table 12: Greek Life Insurance – Paid Claims (EUR Billion), 2011–2016
Table 13: Greek Life Insurance – Incurred Loss (EUR Billion), 2007–2011
Table 14: Greek Life Insurance – Incurred Loss (EUR Billion), 2011–2016
Table 15: Greek Life Insurance – Loss Ratio (%), 2007–2011
Table 16: Greek Life Insurance – Loss Ratio (%), 2011–2016
Table 17: Greek Life Insurance – Combined Ratio (%), 2007–2011
Table 18: Greek Life Insurance – Combined Ratio (%), 2011–2016
Table 19: Greek Life Insurance – Total Assets (EUR Billion), 2007–2011
Table 20: Greek Life Insurance – Total Assets (EUR Billion), 2011–2016
Table 21: Greek Life Insurance – Total Investment Income (EUR Billion), 2007–2011
Table 22: Greek Life Insurance – Total Investment Income (EUR Billion), 2011–2016
Table 23: Greek Life Insurance – Retentions (EUR Billion), 2007–2011
Table 24: Greek Life Insurance – Retentions (EUR Billion), 2011–2016
Table 25: Greek Individual Life Insurance Category – Written Premium (EUR Billion), 2007–2011
Table 26: Greek Individual Life Insurance Category – Written Premium (EUR Billion), 2011–2016
Table 27: Greek Individual Pension Category – Written Premium (EUR Billion), 2007–2011
Table 28: Greek Individual Pension Category – Written Premium (EUR Billion), 2011–2016
Table 29: Greek Individual Unit-Linked Insurance Category – Written Premium (EUR Billion),
2007–2011
Table 30: Greek Individual Unit-Linked Insurance Category – Written Premium (EUR Billion),
2011–2016
Table 31: Greek Other Insurance Category – Written Premium (EUR Billion), 2007–2011
Table 32: Greek Other Insurance Category – Written Premium (EUR Billion), 2011–2016
Table 33: Greek Group Life Insurance Category – Written Premium (EUR Billion), 2007–2011
Table 34: Greek Group Life Insurance Category – Written Premium (EUR Billion), 2011–2016
Table 35: Greek Non-life Insurance Written Premium by Category (EUR Billion), 2007–2011
Table 36: Greek Non-life Insurance Written Premium by Category (US$ Billion), 2007–2011
Table 37: Greek Non-life Insurance Written Premium by Category (EUR Billion), 2011–2016
Table 38: Greek Non-life Insurance Written Premium by Category (US$ Billion), 2011–2016
Table 39: Greek Non-life Insurance Market – Paid Claim (EUR Billion), 2007–2011

5. Table 40: Greek Non-life Insurance Market – Paid Claim (EUR Billion), 2011–2016
Table 41: Greek Non-life Insurance Market – Loss Ratio (%), 2007–2011
Table 42: Greek Non-life Insurance Market – Loss Ratio (%), 2011–2016
Table 43: Greek Non-life Insurance – Incurred Loss by Category (EUR Billion), 2007–2011
Table 44: Greek Non-life Insurance – Incurred Loss by Category (EUR Billion), 2011–2016
Table 45: Greek Non-life Insurance – Combined Ratio (%), 2007–2011
Table 46: Greek Non-life Insurance – Combined Ratio (%), 2011–2016
Table 47: Greek Non-life Insurance – Total Assets (EUR Billion), 2007–2011
Table 48: Greek Non-life Insurance – Total Assets (EUR Billion), 2011–2016
Table 49: Greek Non-life Insurance – Total Investment Income (EUR Billion), 2007–2011
Table 50: Greek Non-life Insurance – Total Investment Income (EUR Billion), 2011–2016
Table 51: Greek Non-life Insurance – Retentions (EUR Billion), 2007–2011
Table 52: Greek Non-life Insurance – Retentions (EUR Billion), 2011–2016
Table 53: Greek Property Insurance Category – Written Premium (EUR Billion), 2007–2011
Table 54: Greek Property Insurance Category – Written Premium (EUR Billion), 2011–2016
Table 55: Greek Motor Insurance Category – Written Premium (EUR Billion), 2007–2011
Table 56: Greek Motor Insurance Category – Written Premium (EUR Billion), 2011–2016
Table 57: Greek Liability Insurance Category – Written Premium (EUR Billion), 2007–2011
Table 58: Greek Liability Insurance Category – Written Premium (EUR Billion), 2011–2016
Table 59: Greek Marine, Aviation and Transit Insurance Category – Written Premium (EUR
Billion), 2007–2011
Table 60: Greek Marine, Aviation and Transit Insurance Category – Written Premium (EUR
Billion), 2011–2016
Table 61: Greek Personal Accident and Health Insurance Written Premium by Category (EUR
Billion), 2007–2011
Table 62: Greek Personal Accident and Health Insurance Written Premium by Category (US$
Billion), 2007–2011
Table 63: Greek Personal Accident and Health Insurance Written Premium by Category (EUR
Billion), 2011–2016
Table 64: Greek Personal Accident and Health Insurance Written Premium by Category (US$
Billion), 2011–2016
Table 65: Greek Personal Accident and Health Insurance Market – Paid Claim (EUR Billion),
2007–2011
Table 66: Greek Personal Accident and Health Insurance Market – Paid Claim (EUR Billion),
2011–2016
Table 67: Greek Personal Accident and Health Insurance Market – Loss Ratio (%), 2007–2011
Table 68: Greek Personal Accident and Health Insurance Market – Loss Ratio (%), 2011–2016
Table 69: Greek Personal Accident and Health Insurance – Incurred Loss (EUR Billion),
2007–2011
Table 70: Greek Personal Accident and Health Insurance – Incurred Loss (EUR Billion),
2011–2016
Table 71: Greek Personal Accident and Health Insurance – Combined Ratio (%), 2007–2011

6. Table 72: Greek Personal Accident and Health Insurance – Combined Ratio (%), 2011–2016
Table 73: Greek Personal Accident and Health Insurance – Total Assets (EUR Billion), 2007–2011
Table 74: Greek Personal Accident and Health Insurance – Total Assets (EUR Billion), 2011–2016
Table 75: Greek Personal Accident and Health Insurance – Total Investment Income (EUR
Billion), 2007–2011
Table 76: Greek Personal Accident and Health Insurance – Total Investment Income (EUR
Billion), 2011–2016
Table 77: Greek Personal Accident and Health Insurance – Retentions (EUR Billion), 2007–2011
Table 78: Greek Personal Accident and Health Insurance – Retentions (EUR Billion), 2011–2016
Table 79: Greek Personal Accident Insurance Category – Written Premium (EUR Billion),
2007–2011
Table 80: Greek Personal Accident Insurance Category – Written Premium (EUR Billion),
2011–2016
Table 81: Greek Health Insurance Category – Written Premium (EUR Billion), 2007–2011
Table 82: Greek Health Insurance Category – Written Premium (EUR Billion), 2011–2016
Table 83: Greek Travel Insurance Category – Written Premium (EUR Billion), 2007–2011
Table 84: Greek Travel Insurance Category – Written Premium (EUR Billion), 2011–2016
Table 85: Greek Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 86: Greek Life Insurance – Percentage of Reinsurance Ceded (%),2011–2016
Table 87: Greek Non-life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 88: Greek Non-life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 89: Greek Personal Accident and Health Insurance – Percentage of Reinsurance Ceded
(%), 2007–2011
Table 90: Greek Personal Accident and Health Insurance – Percentage of Reinsurance Ceded
(%), 2011–2016
Table 91: The Ethniki, Hellenic General Insurance Company SA, Main Products
Table 92: The Ethniki, Hellenic General Insurance Company SA, Key Employees
Table 93: Interamerican Property and Casualty Insurance Co. SA, Main Products
Table 94: Agrotiki Insurance SA, Main Products
Table 95: Agrotiki Insurance SA, Key Employees
Table 96: Intersalonika SA, Main Products
Table 97: Intersalonika SA, Key Employees
Table 98: ING Greek Life Insurance Company SA, Main Products
List of Figures
Figure 1: Greek Insurance Overall Written Premium by Segment (EUR Billion), 2007–2016
Figure 2: Greek Insurance Market Dynamics by Segment, 2007–2016
Figure 3: Greek Life Insurance Written Premium by Category (EUR Billion), 2007–2016
Figure 4: Greek Life Insurance Written Premium by Category (Percentage Share), 2011 and 2016
Figure 5: Greek Life Insurance Market Dynamics by Category, 2007–2016
Figure 6: Greek Life Insurance – Paid Claims (EUR Billion), 2007–2011
Figure 7: Greek Life Insurance – Paid Claims (EUR Billion), 2011–2016

7. Figure 8: Greek Life Insurance – Incurred Loss (EUR Billion), 2007–2011
Figure 9: Greek Life Insurance – Incurred Loss (EUR Billion), 2011–2016
Figure 10: Greek Life Insurance – Loss Ratio (%), 2007–2011
Figure 11: Greek Life Insurance – Loss Ratio (%), 2011–2016
Figure 12: Greek Life Insurance – Combined Ratio (%), 2007–2011
Figure 13: Greek Life Insurance – Combined Ratio (%), 2011–2016
Figure 14: Greek Life Insurance – Total Assets (EUR Billion), 2007–2011
Figure 15: Greek Life Insurance – Total Assets (EUR Billion), 2011–2016
Figure 16: Greek Life Insurance – Total Investment Income (EUR Billion), 2007–2011
Figure 17: Greek Life Insurance – Total Investment Income (EUR Billion), 2011–2016
Figure 18: Greek Life Insurance – Retentions (EUR Billion), 2007–2011
Figure 19: Greek Life Insurance – Retentions (EUR Billion), 2011–2016
Figure 20: Greek Life Insurance – Investment (EUR Billion), 2007–2011
Figure 21: Greek Life Insurance Penetration (Percentage of GDP), 2007–2011
Figure 22: Greek Life Insurance – Premium Per Capita (EUR), 2007–2011
Figure 23: Greek Individual Life Insurance Category – Written Premium (EUR Billion), 2007–2011
Figure 24: Greek Individual Life Insurance Category – Written Premium (EUR Billion), 2011–2016
Figure 25: Greek Individual Pension Category – Written Premium (EUR Billion), 2007–2011
Figure 26: Greek Individual Pension Category – Written Premium (EUR Billion), 2011–2016
Figure 27: Greek Individual Unit-Linked Insurance Category – Written Premium (EUR Billion),
2007–2011
Figure 28: Greek Individual Unit-Linked Insurance Category – Written Premium (EUR Billion),
2011–2016
Figure 29: Greek Other Insurance Category – Written Premium (EUR Billion), 2007–2011
Figure 30: Greek Other Insurance Category – Written Premium (EUR Billion), 2011–2016
Figure 31: Greek Group Life Insurance Category – Written Premium (EUR Billion), 2007–2011
Figure 32: Greek Group Life Insurance Category – Written Premium (EUR Billion), 2011–2016
Figure 33: Greek Non-life Insurance Written Premium by Category (EUR Billion), 2007–2016
Figure 34: Greek Non-life Insurance Written Premium by Category (Percentage Share), 2011 and
2016
Figure 35: Greek Non-life Insurance Market Dynamics by Category, 2007–2016
Figure 36: Greek Non-life Insurance – Paid Claims by Category (EUR Billion), 2007–2011
Figure 37: Greek Non-life Insurance – Paid Claims (EUR Billion), 2011–2016
Figure 38: Greek Non-life Insurance – Loss Ratio (%), 2007–2011
Figure 39: Greek Non-life Insurance – Loss Ratio (%), 2011–2016
Figure 40: Greek Non-life Insurance – Incurred Loss by Category (EUR Billion), 2007–2011
Figure 41: Greek Non-life Insurance – Incurred Loss by Category (EUR Billion), 2011–2016
Figure 42: Greek Non-life Insurance – Combined Ratio (%), 2007–2011
Figure 43: Greek Non-life Insurance – Combined Ratio (%), 2011–2016
Figure 44: Greek Non-life Insurance – Total Assets (EUR Billion), 2007–2011
Figure 45: Greek Non-life Insurance – Total Assets (EUR Billion), 2011–2016
Figure 46: Greek Non-life Insurance – Total Investment Income (EUR Billion), 2007–2011

8. Figure 47: Greek Non-life Insurance – Total Investment Income (EUR Billion), 2011–2016
Figure 48: Greek Non-life Insurance – Retentions (EUR Billion), 2007–2011
Figure 49: Greek Non-life Insurance – Retentions (US$ Billion), 2011–2016
Figure 50: Greek Non-life Insurance – Investment (EUR Billion), 2007–2011
Figure 51: Greek Non-life Insurance Penetration (% of GDP), 2007–2011
Figure 52: Greek Non-life Insurance – Premium Per Capita (EUR), 2007–2011
Figure 53: Greek Property Insurance Category – Written Premium (EUR Billion), 2007–2011
Figure 54: Greek Property Insurance Category – Written Premium (EUR Billion), 2011–2016
Figure 55: Greek Motor Insurance Category – Written Premium (EUR Billion), 2007–2011
Figure 56: Greek Motor Insurance Category – Written Premium (EUR Billion), 2011–2016
Figure 57: Greek Liability Insurance Category – Written Premium (EUR Billion), 2007–2011
Figure 58: Greek Liability Insurance Category – Written Premium (EUR Billion), 2011–2016
Figure 59: Greek Marine, Aviation and Transit Insurance Category – Written Premium (EUR
Billion), 2007–2011
Figure 60: Greek Marine, Aviation and Transit Insurance Category – Written Premium (EUR
Billion), 2011–2016
Figure 61: Greek Personal Accident and Health Insurance Written Premium by Category (EUR
Billion), 2007–2016
Figure 62: Greek Personal Accident and Health Insurance Written Premium by Category
(Percentage Share), 2011 and 2016
Figure 63: Greek Personal Accident and Health Insurance Market Dynamics by Category,
2007–2016
Figure 64: Greek Personal Accident and Health Insurance – Paid Claims by Category (EUR
Billion), 2007–2011
Figure 65: Greek Personal Accident and Health Insurance – Paid Claims (EUR Billion),
2011–2016
Figure 66: Greek Personal Accident and Health Insurance – Loss Ratio (%), 2007–2011
Figure 67: Greek Personal Accident and Health Insurance – Loss Ratio (%), 2011–2016
Figure 68: Greek Personal Accident and Health Insurance – Incurred Loss (EUR Billion),
2007–2011
Figure 69: Greek Personal Accident and Health Insurance – Incurred Loss (EUR Billion),
2011–2016
Figure 70: Greek Personal Accident and Health Insurance – Combined Ratio (%), 2007–2011
Figure 71: Greek Personal Accident and Health Insurance – Combined Ratio (%), 2011–2016
Figure 72: Greek Personal Accident and Health Insurance – Total Assets (EUR Billion),
2007–2011
Figure 73: Greek Personal Accident and Health Insurance – Total Assets (EUR Billion),
2011–2016
Figure 74: Greek Personal Accident and Health Insurance – Total Investment Income (EUR
Billion), 2007–2011
Figure 75: Greek Personal Accident and Health Insurance – Total Investment Income (EUR
Billion), 2011–2016

9. Figure 76: Greek Personal Accident and Health Insurance – Retentions (EUR Billion), 2007–2011
Figure 77: Greek Personal Accident and Health Insurance – Retentions (US$ Billion), 2011–2016
Figure 78: Greek Personal Accident and Health Insurance – Investment (EUR Billion), 2007–2011
Figure 79: Greek Personal Accident and Health Insurance Penetration (Percentage of GDP),
2007–2011
Figure 80: Greek Personal Accident and Health Insurance – Premium Per Capita (EUR),
2007–2011
Figure 81: Greek Personal Accident Insurance Category – Written Premium (EUR Billion),
2007–2011
Figure 82: Greek Personal Accident Insurance Category – Written Premium (EUR Billion),
2011–2016
Figure 83: Greek Health Insurance Category – Written Premium (EUR Billion), 2007–2011
Figure 84: Greek Health Insurance Category – Written Premium (EUR Billion), 2011–2016
Figure 85: Greek Travel Insurance Category – Written Premium (EUR Billion), 2007–2011
Figure 86: Greek Travel Insurance Category – Written Premium (EUR Billion), 2011–2016
Figure 87: Greek Reinsurance Ceded by Insurance Market (%), 2007–2016
Figure 88: Greek Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 89: Greek Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 90: Greek Non-life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 91: Greek Non-life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 92: Greek Personal Accident and Health Insurance – Percentage of Reinsurance Ceded
(%), 2007–2011
Figure 93: Greek Personal Accident and Health Insurance – Percentage of Reinsurance Ceded
(%), 2011–2016
Figure 94: Market Concentration in Greek Life Insurance Segment, 2009–2010
Figure 95: Market Concentration in Greek Non-life Insurance Segment, 2009–2010
Figure 96: Number of Insurance Companies in Greece, 2007–2011
Figure 97: Number of Insurance Companies by Segment in Greece, 2011
Figure 98: Greek GDP at Constant Prices (US$ Billion), 2007–2011
Figure 99: Greek GDP Per Capita at Constant Prices (US$), 2007–2011
Figure 100: Greek GDP at Current Prices (US$ Billion), 2007–2011
Figure 101: Greek Inflation Rate (%), 2007–2011
Figure 102: Greek Arable Land (Hectares) Per Person, 2007–2011
Figure 103: Greek Stock Exchange Market Capitalization (US$ Billion), 2007–2011
Figure 104: Greek Exports as a Percentage of GDP (%), 2007–2011
Figure 105: Greece Imports as a Percentage of GDP (%), 2007–2011
Figure 106: Greece Number of Air Passengers (Million), 2007–2011
Figure 107: Greece Healthcare Expenditure Per Capita (US$), 2007–2011
Figure 108: Greece Employed Population (%), 2007–2011
Figure 109: Greece Annual Disposable Income (US$ Billion), 2007–2011
Figure 110: Greece Annual Disposable Income Per Capita (US$), 2007–2011
Figure 111: Greece Total Population (Million), 2007–2011

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