Fast Market Research

"Greece Insurance Report Q4 2012" Now Available at Fast Market Research

Fast Market Research recommends "Greece Insurance Report Q4 2012" from Business Monitor International, now available

 
Repost This

Boston, MA -- (SBWIRE) -- 10/12/2012 -- Key Insights And Key Risks

The Greece Insurance Report considers the prospects for both life and non-life insurers in the country. The latest statistics from the Hellenic Association of Insurance Companies (EAEE) point to a single-digit contraction in premiums in both of the main segments during 2011. However, given the economic turmoil through much of last year, which has persisted in 2012, this is a respectable outcome. Overall profitability has suffered as the result of the general volatility in financial markets and the need for most insurers to make substantial write-downs in relation to their holdings of Greek government bonds.

BMI remains impressed by the resilience of premiums in the non-life segment, which appears to have persisted into Q212. This suggests that in spite of all the challenges there are still large numbers of households that can afford to pay for non-life insurance. The limited data published by insurers over the first six months of 2012 indicates that many companies have raised their profitability levels, thanks to lower claims or reduced operating costs.

View Full Report Details and Table of Contents

The small size of the decrease in premiums in the life segment that was reported for 2011 and Q112 seems even more remarkable. In particular, it appears that premiums have held up much better in Greece than in Portugal, where the current economic and financial situation is broadly similar. Taking the very long view, it is possible that structural reforms adopted by, or forced on, the Greek government will result in far greater use of life insurance as a conduit for retirement savings and/or provision for other eventualities. However, the economic and social turmoil will have to continue for quite a while before that stage is reached.

Over the last quarter, BMI has made the following changes:

- There is a discussion of the results for last year that were released by insurers during H112.
- In particular, we look at comments from Ethniki Insurance, the insurance affiliate of National Bank of Greece.
- The analysis takes into account BMI's latest assessment of the unfolding financial, economic and political crises in Greece.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Financial Services research reports at Fast Market Research

You may also be interested in these related reports:

- United States Insurance Report Q4 2012
- Brazil Insurance Report Q4 2012
- Argentina Insurance Report Q4 2012
- Mexico Insurance Report Q4 2012
- Hong Kong Insurance Report Q4 2012
- Canada Insurance Report Q4 2012
- Russia Insurance Report Q4 2012
- Slovakia Insurance Report Q4 2012
- Romania Insurance Report Q4 2012
- Bulgaria Insurance Report Q4 2012