Life Insurance in Greece, Key Trends and Opportunities to 2017

Date: 2015-09

The Greek life segment is the second-largest in the countryโ€™s insurance industry, accounting for 44.8% of the gross written premium in 2012. Life insurance penetration decreased from 1.1% in 2008 to 1% in 2012. This penetration level is expected to increase to 1.1% by 2017. Overall, the life segment recorded a CAGR of -6% during the review period, as Greece was severely impacted by the global economic and eurozone debt crises. The gross written premium registered by the life insurance segment is expected to increase at a forecast-period CAGR of 3%. This increase is primarily a result of a gradual improvement in the economy. As of 2012, there were 13 insurers offering only life insurance products.

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