Non-Life Insurance in Greece, Key Trends and Opportunities to 2017, New Report Launched

Non-life insurance was the largest segment in the Greek insurance industry in 2012, accounting for 51.8% of the industry’s total premiums. The Greek economy was adversely affected by the financial crisis and the subsequent eurozone debt crisis. The consequent reduction in business revenues, rising levels of unemployment and a decline in disposable income levels had a rub-off effect on the country’s non-life segment. The Greek insurance industry decreased at a compound annual growth rate (CAGR) of -2.4% during the review period (2008–2012). However, the non-life segment posted a review-period CAGR of 1%. Over the forecast period (2012–2017), the segment is expected to register a CAGR of 3.3% in gross written premium terms, primarily driven by gradual economic recovery. Agencies are the main distribution channel in the non-life segment and accounted for 52.1% of the gross written premium generated from new business in 2012, followed by brokers with 31%.

The report provides in depth market analysis, information and insights into the Greek non-life insurance segment, including:

• The Greek non-life insurance segment’s growth prospects by non-life insurance categories
• Key trends and drivers for the non-life insurance segment
• The various distribution channels in the Greek non-life insurance segment
• The detailed competitive landscape in the non-life insurance segment in Greece
• Regulatory policies of the Greek insurance industry
• A description of the non-life reinsurance segment in Greece
• Porter's Five Forces analysis of the non-life insurance segment

Scope

This report provides a comprehensive analysis of the non-life insurance segment in Greece:

• It provides historical values for Greece’s non-life insurance segment for the report’s 2008–2012 review period and projected figures for the 2012–2017 forecast period.
• It offers a detailed analysis of the key categories in Greece’s non-life insurance segment, along with market forecasts until 2017.
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
• It analyses the various distribution channels for non-life insurance products in Greece.
• Using Porter’s industry-standard Five Forces analysis, it details the competitive landscape in Greece for the non-life insurance segment.
• It provides a detailed analysis of the reinsurance segment in Greece and its growth prospects.
• It profiles the top non-life insurance companies in Greece and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Greek non-life insurance segment and each category within it.
• Understand the demand-side dynamics, key market trends and growth opportunities within the Greek non-life insurance segment.
• Assess the competitive dynamics in the non-life insurance segment, along with the reinsurance segment.
• Identify the growth opportunities and market dynamics within key product categories.
• Gain insights into key regulations governing the Greek insurance industry and its impact on companies and the market's future.

Key Highlights

• The Greek non-life insurance segment is the largest in the industry, accounting for 51.8% of the gross written premium generated in 2012
• In 2012, the non-life segment comprised 45 insurers, 11 of which were composite insurers
• Motor insurance is the largest category in the segment, representing 65.7% of its total written premiums in 2012
• Property cover was the second-largest non-life category with 28.8% of the segment’s written premiums in 2012
• Agencies are the main distribution channel for the non-life insurance segment and accounted for 52.1% of the total commission paid in 2012
• The segment is highly concentrated with the 10 leading companies accounting for 62.1% of the total non-life gross written premium income in 2012

Spanning over 256 pages, 178 Tables and 178 Figures “Non-Life Insurance in Greece, Key Trends and Opportunities to 2017” report provide Greek Insurance Industry Attractiveness, Non-Life Insurance Outlook, Analysis by Distribution Channels, Porter’s Five Forces Analysis – Greek Non-Life Insurance , Reinsurance Growth Dynamics and Challenges,Governance, Risk and Compliance, Competitive Landscape and Strategic Insights, Business Environment and Country Risk, Appendix.The Report Cover 10 Companies - Ethniki, Interamerican Property and Casualty Insurance Co.SA, Europaiki Enosis (European Reliance General Insurance Company SA), Ergo General Insurance Company SA, ATE Insurance, Axa Insurance SA, Allianz Hellas, Ydroghios (The Globe), Groupama Phoenix, AIG Greece.

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