New Market Report: Greece Insurance Report Q4 2015

Greece's insurance sector is, and will remain, under-developed by many metrics. While premiums are no longer falling off a cliff as they have done in many segments in recent years, our outlook for both the life and non-life sectors is overwhelmingly bearish. A gradual acceleration in economic growth aside, the country's lingering debt crisis, coupled with the traditional aversion of Greek citizens to many forms of insurance products, will continue to act as significant barriers in terms of penetration and density growth over our forecast period through to end-2019.

Barring a small number of exceptions, we believe that insurance premiums will largely stagnate over the next few years. In the very recent past, the fortunes of the life and the non-life segments of Greece's insurance sector have diverged. Price competition in the market for compulsory motor third party liability (CMTPL) insurance has had an impact on overall non-life premiums. Interamerican, the local offshoot of Dutch giant Achmea, has announced some innovations in terms of distribution and affinity relationships. The motor vehicle insurance sub-sector remains by far the largest in the non-life segment, comprising more than 55% of written premiums and we expect this trend to remain in place through to 2020 at the very least. The dominance of car insurance lines will be accentuated by the fact that the smaller, discretionary non-life lines such as health, property and personal accident will continue to be hampered by high unemployment, erosion of disposable income and economic uncertainty.

Full Report Details at
- http://www.fastmr.com/prod/1052925_greece_insurance_report_q4.aspx?afid=301

The Greece Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Greece Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Greek insurance industry.

Key Benefits

* Benchmark BMI's independent insurance industry forecasts for Greece to test other views - a key input for successful budgeting and strategic business planning in Greece's insurance market.
* Target business opportunities and risks in Greece through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
* Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

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