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Personal Accident and Health Insurance in Greece, Key Trends and Opportunities to 2020

  • Published Date: 21 Jun 2017
  • Number of Pages: 123
  • Category: Energy and Utilities
  • Country: Greece

Synopsis


Timetrics Personal Accident and Health Insurance in Greece Key Trends and Opportunities to 2020 report provides a detailed outlook by product category for the Greek life insurance segment, and a comparison of the Greek insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (20112015) and forecast period (20152020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Greek economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetrics research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary


Timetrics Personal Accident and Health Insurance in Greece, Key Trends and Opportunities to 2020 report provides in-depth market analysis, information and insights into the Greek personal accident and health insurance segment, including:

An overview of the Greek personal accident and health insurance segment

The Greek personal accident and health insurance segments growth prospects by category

A comprehensive overview of the Greek economy and demographics

A comparison of the Greek personal accident and health insurance segment with its regional counterparts

The various distribution channels in the Greek personal accident and health insurance segment

Details of the competitive landscape in the personal accident and health insurance segment in Greece

Details of regulatory policy applicable to the Greek insurance industry

Scope


This report provides a comprehensive analysis of the personal accident and health insurance segment in Greece:

It provides historical values for the Greek personal accident and health insurance segment for the reports 20112015 review period, and projected figures for the 20152020 forecast period.

It offers a detailed analysis of the key categories in the Greek personal accident and health insurance segment, and market forecasts to 2020.

It provides a comparison of the Greek personal accident and health insurance segment with its regional counterparts

It provides an overview of the various distribution channels for personal accident and health insurance products in Greece.

It profiles the top personal accident and health 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 personal accident and health insurance segment, and each category within it.

Understand the demand-side dynamics, key market trends and growth opportunities in the Greek personal accident and health insurance segment.

Assess the competitive dynamics in the personal accident and health insurance segment.

Identify 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 industrys future.

Key Highlights


In April 2017, the National Insurance Company of Greece, a subsidiary of the National Bank of Greece, put forward its stake for sale.

In January 2017, the Bank of Greece proposed a new compensation mechanism for victims of traffic accidents by drivers insured with license-revoked companies.

Solvency II was implemented on January 1, 2016.

Effective from July 16, 2015, the standard insurance premium tax rate for personal accident and health business was increased from 10% to 15%.

In December 2015, the Canada-based Fairfax Financial Holdings Ltd signed an agreement to acquire 80% of shares and management of the Eurolife ERB Insurance Group.

ING Greece was rebranded to NN Hellas in April 2015, after the acquisition of ING Greece by the Dutch-based NN Group.

Greeks are looking for private health insurance due to a lack of public healthcare services. This increased the number of private health insurance contracts by 12.5% in 2015.

Publisher Name : Timetric

1 KEY FACTS AND HIGHLIGHTS
2 EXECUTIVE SUMMARY
3 ECONOMY AND DEMOGRAPHICS
4 SEGMENT OUTLOOK
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 OUTLOOK BY CATEGORY
5.1 Personal Accident Insurance
5.1.1 Premium
5.1.2 Policies
5.1.3 Claims
5.2 Health Insurance
5.2.1 Premium
5.2.2 Policies
5.2.3 Claims
5.3 Travel Insurance
5.3.1 Premium
5.3.2 Policies
5.3.3 Claims
6 DISTRIBUTION CHANNEL OUTLOOK
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 The Ethniki Hellenic General Insurance Company SA company overview
7.1.2 Eurolife ERB Life Insurance SA company overview
7.1.3 Allianz Hellas Insurance Company SA company overview
7.1.4 Interamerican Hellenic Life Insurance Company SA company overview
7.1.5 NN Hellenic Life Insurance Co. SA company overview
8 GOVERNANCE, RISK AND COMPLIANCE
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Workmens compensation insurance
8.4.2 Motor third-party liability insurance
8.4.3 Air carriers and aircraft operators insurance
8.4.4 Professional indemnity insurance for alternative investment fund managers
8.4.5 Liability for ships with respect to oil pollution
8.4.6 Liability insurance against the transport of hazardous and noxious substances by sea
8.4.7 Professional indemnity for insurance intermediaries
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 European Insurance and Occupational Pensions Authority
8.5.3 Federation of European Risk Management Associations
8.5.4 Department of Private Insurance Supervision
8.5.5 Greek Association of Insurance Companies
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution
9 DATABOOK
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Personal Accident Insurance
9.5 Health Insurance
9.6 Health Insurance by Product
9.7 Travel Insurance
10 DEFINITIONS AND METHODOLOGY
10.1 Definitions
10.2 Methodology
11 ABOUT TIMETRIC
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetrics Services
11.4 Disclaimer


List of Tables


Table 1: Greek Personal Accident and Health Insurance Key Facts, 2014
Table 2: Greek Personal Accident and Health Insurance Top Insurers, 2015
Table 3: Greek Government Credit Ratings
Table 4: Greek Personal Accident and Health Insurance Gross Written Premium (EUR Million and US$ Million), 20112015
Table 5: Greek Personal Accident and Health Insurance Gross Written Premium (EUR Million and US$ Million), 20152020
Table 6: Greek Personal Accident and Health Insurance Penetration (%), 20112015
Table 7: Greek Personal Accident and Health Insurance Penetration (%), 20152020
Table 8: Greek Personal Accident and Health Insurance Premium per Capita (EUR and US$), 20112015
Table 9: Greek Personal Accident and Health Insurance Premium per Capita (EUR and US$), 20152020
Table 10: Greek Personal Accident and Health Insurance Number of Policies Sold (Million), 20112015
Table 11: Greek Personal Accident and Health Insurance Number of Policies Sold (Million), 20152020
Table 12: Greek Personal Accident and Health Insurance Paid Claims (EUR Million and US$ Million), 20112015
Table 13: Greek Personal Accident and Health Insurance Paid Claims (EUR Million and US$ Million), 20152020
Table 14: Greek Personal Accident and Health Insurance Profitability Ratio (%), 20112015
Table 15: Greek Personal Accident and Health Insurance Profitability Ratio (%), 20152020
Table 16: Greek Personal Accident and Health Insurance Total Assets (EUR Billion and US$ Billion), 20112015
Table 17: Greek Personal Accident and Health Insurance Total Assets (EUR Billion and US$ Billion), 20152020
Table 18: Greek Personal Accident and Health Insurance Investment Portfolio (EUR Million), 20112015
Table 19: Greek Personal Accident and Health Insurance Investment Portfolio (EUR Million), 20152020
Table 20: Greek Personal Accident and Health Insurance Direct Written Premium by Category (EUR Million), 20112015
Table 21: Greek Personal Accident and Health Insurance Direct Written Premium by Category (EUR Million), 20152020
Table 22: Greek Personal Accident Insurance Direct Written Premium (EUR Million and US$ Million), 20112015
Table 23: Greek Personal Accident Insurance Direct Written Premium (EUR Million and US$ Million), 20152020
Table 24: Greek Personal Accident Insurance Number of Policies Sold (Thousand), 20112015
Table 25: Greek Personal Accident Insurance Number of Policies Sold (Thousand), 20152020
Table 26: Greek Personal Accident Insurance Paid Claims (EUR Million and US$ Million), 20112015
Table 27: Greek Personal Accident Insurance Paid Claims (EUR Million and US$ Million), 20152020
Table 28: Greek Health Insurance Direct Written Premium by Sub-Category (EUR Million), 20112015
Table 29: Greek Health Insurance Direct Written Premium by Sub-Category (EUR Million), 20152020
Table 30: Greek Health Insurance Number of Policies Sold by Sub-Category (Thousand), 20112015
Table 31: Greek Health Insurance Number of Policies Sold by Sub-Category (Thousand), 20152020
Table 32: Greek Health Insurance Paid Claims (EUR Million and US$ Million), 20112015
Table 33: Greek Health Insurance Paid Claims (EUR Million and US$ Million), 20152020
Table 34: Greek Travel Insurance Direct Written Premium (EUR Million and US$ Million), 20112015
Table 35: Greek Travel Insurance Direct Written Premium (EUR Million and US$ Million), 20152020
Table 36: Greek Travel Insurance Number of Policies Sold (Million), 20112015
Table 37: Greek Travel Insurance Number of Policies Sold (Million), 20152020
Table 38: Greek Travel Insurance Paid Claims (EUR Million and US$ Million), 20112015
Table 39: Greek Travel Insurance Paid Claims (EUR Million and US$ Million), 20152020
Table 40: Greek Personal Accident and Health Insurance Leading Insurers, 2015
Table 41: The Ethniki Hellenic General Insurance Company SA Key Facts
Table 42: Eurolife ERB Life Insurance SA Key Facts
Table 43: Allianz Hellas Insurance Company SA Key Facts
Table 44: Interamerican Hellenic Life Insurance Company SA Key Facts
Table 45: NN Hellenic Life Insurance Co. SA Key Facts
Table 46: Greece Insurance Regulatory Framework Key Features
Table 47: Greece Life Insurance Regulatory Framework
Table 48: Greece Property Insurance Regulatory Framework
Table 49: Greece Motor Insurance Regulatory Framework
Table 50: Greece Liability Insurance Regulatory Framework
Table 51: Greece Minimum Coverage for Aircraft Third-Party Liability Per Accident and Aircraft
Table 52: Greece Corporate Tax Rates for the Financial Year 2017
Table 53: Greek Personal Accident and Health Insurance Industry Policies and Premium, 20112015
Table 54: Greek Personal Accident and Health Insurance Industry Policies and Premium, 20152020
Table 55: Greek Personal Accident and Health Insurance Claims and Expenses, 20112015
Table 56: Greek Personal Accident and Health Insurance Claims and Expenses, 20152020
Table 57: Greek Personal Accident and Health Insurance Assets and Investments, 20112015
Table 58: Greek Personal Accident and Health Insurance Assets and Investments, 20152020
Table 59: Greek Personal Accident and Health Insurance Personal Accident Insurance, 20112015
Table 60: Greek Personal Accident and Health Insurance Personal Accident Insurance, 20152020
Table 61: Greek Personal Accident and Health Insurance Health Insurance, 20112015
Table 62: Greek Personal Accident and Health Insurance Health Insurance, 20152020
Table 63: Greek Personal Accident and Health Insurance Health by Product, 20112015
Table 64: Greek Personal Accident and Health Insurance Health by Product, 20152020
Table 65: Greek Personal Accident and Health Insurance Travel Insurance, 20112015
Table 66: Greek Personal Accident and Health Insurance Travel Insurance, 20152020
Table 67: Insurance Industry Definitions


List of Figures


Figure 1: Greek Real GDP (EUR Billion), 20112020
Figure 2: Exchange Rate (EURUS$), 20112020
Figure 3: Greek Consumer Price Inflation (%), 20112020
Figure 4: Greek Current Account Balance as Percentage of GDP (%), 20112015
Figure 5: Greek Unemployment Rate, 20112020
Figure 6: Greek Population by Age Group, 19912025
Figure 7: Greek Motor Insurance Road Accidents, 20112016
Figure 8: Greek Personal Accident and Health Insurance Penetration Regional Comparison (%), 2015
Figure 9: Greek Insurance Segment Direct Written Premium Shares Regional Comparison (%), 2015
Figure 10: Greek Personal Accident and Health Insurance Gross Written Premium (EUR Million), 20112020
Figure 11: Greek Personal Accident and Health Insurance Penetration (%), 20112020
Figure 12: Greek Personal Accident and Health Insurance Premium per Capita (EUR), 20112020
Figure 13: Greek Personal Accident and Health Insurance Number of Policies Sold (Million), 20112020
Figure 14: Greek Personal Accident and Health Insurance Paid Claims (EUR Million), 20112020
Figure 15: Greek Personal Accident and Health Insurance Profitability Ratio (%), 20112020
Figure 16: Greek Personal Accident and Health Insurance Total Assets (EUR Billion), 20112020
Figure 17: Greek Personal Accident and Health Insurance Investment Portfolio (EUR Million), 20112020
Figure 18: Greek Personal Accident and Health Insurance Investment Portfolio Dynamics by Category, 20112020
Figure 19: Greek Personal Accident and Health Insurance Direct Written Premium by Category (EUR Million), 20112020
Figure 20: Greek Personal Accident and Health Insurance Direct Written Premium Dynamics by Category, 20112020
Figure 21: Greek Personal Accident Insurance Direct Written Premium (EUR Billion), 20112020
Figure 22: Greek Personal Accident Insurance Number of Policies Sold (Thousand), 20112020
Figure 23: Greek Personal Accident Insurance Paid Claims (EUR Million), 20112020
Figure 24: Greek Health Insurance Direct Written Premium by Sub-Category (EUR Million), 20112020
Figure 25: Greek Health Insurance Direct Written Premium Dynamics by Sub-Category, 20112020
Figure 26: Greek Health Insurance Number of Policies Sold by Sub-Category (Thousand), 20112020
Figure 27: Greek Health Insurance Paid Claims (EUR Million), 20112020
Figure 28: Greek Travel Insurance Direct Written Premium (EUR Million), 20112020
Figure 29: Greek Travel Insurance Number of Policies Sold (Thousand), 20112020
Figure 30: Greek Travel Insurance Paid Claims (EUR Million), 20112020
Figure 31: Greece The Three Pillars of Solvency II
Figure 32: Greece Insurance Supervision and Control at Various Levels
Figure 33: Greece Insurance Regulatory Frameworks for Company Registration and Operation


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