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Greece Insurance Report Q4 2016

  • October 2016
  • -
  • Business Monitor International
  • -
  • 55 pages

Includes 3 FREE quarterly updates

BMI View:

Within the non-life segment we have made minor downwards changes to our forecasts for health insurance and upwards for motor vehicle insurance. Overall, though, our forecasts are very similar to those in Q316. In general, we remain of the view that the prospects for Greece's insurance sector are uninspiring, with both major segments likely to remain under-developed by almost all measures at the end of the forecast period in 2020. Challenges for the non-life segment include a patchy economy and the likelihood of downwards pressure on prices in the important motor vehicle and property sub-sectors. Challenges for the life segment include a lack of understanding by households of the benefits of life insurance and competition with life insurance from other conduits for organised savings.


Key Updates And Forecasts

- The various sub-sectors of the non-life segment performed in a mixed fashion through H116, according to data published by the trade association. We look for overall non-life premiums to rise by 2-3% annually through the forecast period to 2020. Premiums will rise in line with nominal GDP. The main catalyst for growth will likely be higher volumes in the important motor vehicle insurance sub-sector.

- Reports from the trade association highlight how demand for index-linked life insurance products has collapsed in H116. Premiums from traditional insurance products have been rising at mid-single digit rates. Looking forward, we expect that overall life premiums will broadly track sideways through the forecast period to 2020.

Table Of Contents

Greece Insurance Report Q4 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Greece 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Greece 2013-2020) 10
Table: Life Insurance Claims (Greece 2008-2015) 11
Non-Life Premiums Forecast 11
Table: Non-Life Premiums (Greece 2013-2020) 14
Table: Non-Life Insurance Claims (Greece 2009-2015) 16
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums By Product Line (Greece 2013-2020) 26
Insurance Risk/Reward Index 27
Emerging Europe Risk/Reward Index 27
Table: Emerging Europe Insurance Risk/Reward Index - Q416 28
Market Overview 29
Life Market Overview 29
Product Offering 29
Competitive Landscape 30
Non-Life Market Overview 31
Product Offering 31
Competitive Landscape 32
Company Profile 33
Achmea 33
Allianz 36
Ethniki Insurance 39
Generali 42
Groupama 46
Methodology 49
Industry Forecast Methodology 49
Sector-Specific Methodology 50
Risk/Reward Index Methodology 52
Table: Indicators 54
Table: Weighting of Indicators 55

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