Greece Insurance Q4 2018
Greece's insurance market continues to be defined by the economic chaos of the past 10 years, with a fragile labourmarket and salary cuts having eroded the disposable incomes and insurance affordability of many Greek households. Nevertheless,a recovery in economic growth and consumer spending, which we expect to peak in 2018, will drive growth in a number of lines inthe short term. In particular, we expect to see robust growth in the key consumer lines of life and motor vehicle insurance, as fallingunemployment and stronger consumer confidence drive demand from a low base. We expect the pace of growth to graduallysoften over the remainder of the forecast period, in line with the overall economy. Our outlook, though generally positive, remainssubject to a high level of downside risk resulting from the wider economic conditions and the potential for further downturn.
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