Non-Life Insurance Industry in Greece to 2017 - Key Trends and Opportunities

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.

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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%.

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 categiories 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...