The report provides in-depth market analysis, information and insights into the Greek life insurance segment, including:
- The Greek life insurance segment’s growth prospects by life insurance category
- Key trends and drivers for the life insurance segment
- The various distribution channels in the Greek life insurance segment
- The detailed competitive landscape in the life insurance segment in Greece
- Detailed regulatory policies of the Greek insurance industry
- Analysis of various consumer segments in Greek life insurance
- Key developments in the Greek life insurance segment
- New products launched by Greek life insurers
Life insurance was the second-largest segment in the Greek insurance industry in 2013, accounting for 40.0% of the industry’s total gross written premiums. The segment’s value declined at a review-period (2009–2013) compound annual growth rate (CAGR) of -10.5%. The economy depleted after the eurozone debt crisis, due to factors such as a rise in levels of unemployment, decline in income levels and decreasing GDP. The level of awareness of the need for life insurance products in Greece is generally low. The life insurance penetration rate for the Greek life insurance segment as a percentage of GDP was 0.89% in 2013; much lower than the UK’s 8.7% and Germany’s 3.4%. The low penetration signifies a highly underpenetrated segment, with a lot of scope for growth. The segment is expected to record a forecast-period (2013–2018) CAGR of 2.9%. Growth will be driven by a gradual recovery in the Greek economy.
This report provides a comprehensive analysis of the life insurance segment in Greece:
- It provides historical values for the Greek life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
- It offers a detailed analysis of the key categories in the Greek life insurance segment, along with market forecasts until 2018.
- 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 life insurance products in Greece.
- It profiles the top 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 life insurance segment and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Greek life insurance segment.
- Assess the competitive dynamics in the life insurance segment.
- Identify the growth opportunities and market dynamics in key product categories.
- Gain insights into key regulations governing the Greek insurance industry and their impact on companies and the industry’s future.
- The segment is concentrated, with the 10 leading companies accounting for 87.8% of the segment’s gross written premium in 2013.
- The population belonging to the 40–64 age group was a significant driver of the life insurance segment during the review period.
- The life segment accounted for 40.0% of the overall insurance industry’s gross written premium in 2013.
- Agencies emerged as the most popular distribution channel in the life segment. The channel’s share in terms of new business gross written premium by distribution channel declined from 57.2% in 2009 to 56.2% in 2013.
- As part of its measures to improve its fiscal position, the government passed Tax Law No.4110 in 2013.
- The rise in the number of internet subscribers encouraged many Greek insurers to market their products online. E-commerce is expected to emerge as the second-fastest-growing distribution channel, registering a forecast-period CAGR of 1.5%.
- Life insurers are emphasizing the development of income protection plans with the aim of targeting people who are uncertain about their future income. Income protection plans act as financial protection to the insured’s family during unforeseen events, such as the sudden death of the policyholder (insured) following an illness or accident.
Spanning over 257 pages, “Life Insurance in Greece, Key Trends and Opportunities to 2018” report covering the Key Facts and Top Events, Executive Summary, Introduction, Greek Insurance Industry Attractiveness, Life Insurance Outlook, Analysis by Distribution Channel, Governance, Risk and Compliance, Competitive Landscape and Strategic Insights, Appendix – 1, Appendix – 2. The report covered companies are – Ethniki, Eurolife, ING Life, MetLife Alico Life, Interamerican Life, Allianz Hellas, Axa Insurance, Groupama Phoenix, Generali Hellas, Credit Agricole Life
For more information see – http://mrr.cm/44F
Related Reports at:
1st- Non-Life Insurance in Greece, Key Trends and Opportunities to 2018- visit at: http://mrr.cm/44t
2nd- Personal Accident and Health Insurance in Greece, Key Trends and Opportunities to 2018 – visit at: http://mrr.cm/44v
3rd- Reinsurance in Greece, Key Trends and Opportunities to 2018 – visit at: http://mrr.cm/4ok
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