Greece insurance market in Q1 2023 totaled at EUR 1.23 bn

The Greece insurance market at the end of March 2023 totaled at EUR 1.23 billion, 6.8% more y-o-y, according to the Q1 2023 preliminary statistics published by HAIC – the Hellenic Association of Insurance Companies.

Greek life insurance segment increased by 3.6% y-o-y to EUR 577.8 million, while the general insurance subclasses expanded by almost 10% y-o-y to EUR 656.5 million.

The Q1 2023 market results published by HAIC include the figures for 49 insurance enterprises, of which 43 were active in Non-Life insurance and 16 in Life insurance.

Of the 47 insurance enterprises, 27 were established in Greece in the form of S.A. Insurance Company, 2 in the form of mutual insurance cooperative, 15 as branches of a foreign insurance enterprise and 5 European insurance enterprises operating under the freedom to provide services status.

Hellenic Association of Insurance Companies

The Hellenic Association of Insurance Companies (HAIC) represents the collective interests of insurance enterprises operating in Greece.

The 47 insurance enterprises–members of the Association, representing about 95% of insurance premium written in Greece, supply all modern insurance products in Greece.

The primary aims of the Hellenic Association of Insurance Companies are to develop, by any legal means, the institution of private insurance in our country but also to promote the moral, professional and financial interests of its members to the relevant ministries, to the institutions of the European Union and the international insurance institutions.

Today the Greek insurance market contributes greatly to our national economy and to the social stability by providing its insurance services. The Hellenic Association of Insurance Companies in order to achieve its goals upgrade continuously its role in the broader financial environment of our country.

by Yana Keller