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Greece Insurance Report Q3 2008

Published by: Business Monitor International

Published: Sep. 17, 2008 - 75 Pages


Table of Contents


The Sector At A Glance
Table: Overview Of Greece’s Insurance Sector
Key Insights On Greece’s Insurance Sector
Greece Insurance Industry SWOT
Development Of BMI’s Insurance Reports
Projections And Forecasts
Table: Premiums - Historical Data And Forecast12
Projections And Drivers Of Growth
Table: Growth Driver12
Country Update
Macroeconomic Outlook
Table: Greece - Monetary Policy
Political Outlook
Table: Greece - Insurance Business Environment Indicat
Table: Central And Eastern Europe Insurance Business Environment Rankings
Regional Context
Table: Non-Life Premiums In A Regional Contex
Table: Life Premiums In A Regional Contex
Table: Comparison Of Major Lines As % Of Non-Life Premium
Analysis Of Competitive Conditions
Greece - Non-Life Segment
Greece - Life Segment
Company Profiles
AEGON
AIG
Allianz
Aviva
AXA
Cardif
Ergo
Eureko
Fortis
Generali
Grawe
Groupama
HDI-Gerling
HSBC Insurance
ING
MetLife
Prudential Financial
QBE
RSA
UNIQA
Vienna Insurance Group
Zurich
Methodology
Basis Of Projections
Insurance Business Environment Rating
Table: Insurance Business Environment Indicators And Rationale
Table: Weighting Of Indicators

Abstract

BMI has made some key changes to its methodology in Q308, one of which is the inclusion of moreinformation about companies operating across entire geo-political regions. We have sought to make itmuch clearer who is operating in each country and under what name(s). Perhaps equally importantly, ourprofiles make it plain which multi-national companies are not operating in each country.

In Central and Eastern Europe, we profile 22 multi-national insurance companies. In alphabetical order,these are AEGON, AIG, Allianz, Aviva, AXA, Cardif, ERGO, Eureko, Fortis, Generali, GRAWE,Groupama, HDI-Gerling, HSBC Insurance, ING, MetLife, Prudential Financial, QBE, RSA,UNIQA, Vienna Insurance Group and Zurich Financial Services.

We also discuss the regional presence of Belgium’s KBC and Austria’s Erste Bank through a number ofinsurance subsidiaries and explain the importance, for each of the various countries, of purely domesticfirms.

For almost all the countries whose reports we are updating, we are also able to include actual data forcalendar 2007. This was not the case for our Q208 reports.In 2007, total premiums in Greece rose by 8% to EUR4,686mn. Non-life premiums rose by 6% toEUR2,185mn, while life premiums rose by 10% to EUR2,5013mn.

Between now and the end of the forecast period, we expect that annual non-life premiums will grow byEUR6,802mn, while annual life premiums should increase by EUR1,804mn. Growth in non-lifepremiums should be driven by the general growth in nominal GDP plus a rise in non-life penetration fromthe current level of 0.85% to 2.70%. Growth in life premiums should be driven by the change in theoverall population and a rise in life density from US$299 to US$500 per capita.BMI’s Insurance Business Environment Rating is 63.7.

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