Dimitris Giomelakis Partner
Chapter 17 - Greece insurance
The insurance market experiences constant change because of its interdependence with the economy as a whole. The Greek insurance market continues market continues to be under pressure (as is the rest of the Greek economy), with its main characteristic being a significant and continuous drop in premium production, especially in the car insurance sector.
However, local insurers are looking to switch to technology platforms that enable development and cost reduction. The Eu Solvency II framework, which directly links taking new risks with efficiency and maintaining high capital adequacy, is leading companies to stable and safe paths on policies for new production, avoidance of guaranties, and complex products that usually bring higher capital requirements.
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