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Chapter 18 - Greece

Insights / / Chapter 18 - Greece

The insurance market experiences constant change because of its interdependence with the economy as a whole.

The Greek insurance market is showing slow but definite signs of recovery broadly along the lines of GDP growth, reflected in the quarterly statistics on insurance corporation assets published by the Bank of Greece. 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 guarantees, and complex products that usually bring higher capital requirements.

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