Greece Insurance Market Intelligence - Market Research Reports On Aarkstore Enterprise
07/14/2010

Aarkstore announce a new report "Greece Insurance Market Intelligence " through its vast collection of market reserach report.

Online PR News – 14-July-2010 – – Greece Insurance Market Intelligence "The Greek insurance market almost doubled in value terms, in local currency during 2000-2008. Growth in the insurance premiums was mainly due to steady population growth and the growing economy. The Greek insurance market is almost equally divided between the Life and the Non-life segments; however, the life segment holds slightly larger share of the market. Insurance in the country is marked by significant low levels of penetration and low density which provides further room for the growth of the insurance premium in both the segments. The market has also been driven by the growth shown by the life segment in recent years. The strong economic growth rate in the country, which has been driven by several factors like supportive fiscal policies, the country’s entry into the Eurozone, accommodative monetary policy in the Eurozone, heavy infrastructure spending etc., is another important growth driver for the insurance sector of the country.

Land vehicles insurance and motor vehicle liability insurance were the major contributors to the growth of non-life segment in 2008. Rise in the property market and increasing vehicles87 population are two important factors aiding the growth of the non-life segment. The demographics of Greece are also favorable for the insurance sector, as 66.6% of the population is in the age group of 15-64 years, as these are the prime investors and this is also a positive factor for the pension funds.

The present report gives an overview of the Greek insurance market along with an analysis of Greece’s political structure and economic growth. The report provides an insight into the market size and growth in insurance premiums as well as life and non-life premiums. Insurance premiums are discussed in terms of life and non-life segments and the density and penetration levels. The various developments and drivers are also discussed and finally the projections regarding premium growth are given.

By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the Greek insurance industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry and its sub-segments life and non-life insurance. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.

Table of Contents :
1. Industry Snapshot

1.1 Industry Structure

1.1.1 Reduced Government Intervention and Restriction Policies Through Reforms
1.1.2 Decreasing Number of Players Due to Insolvency and M&As
1.1.3 Formation of Supervisory Committee

1.2 Market Overview

1.2.1 Market Size & Growth

1.2.1.1 Insurance Market Almost Doubled in Value Terms
1.2.1.2 Healthy Growth of Double Digit in Premiums, Supported by Growing Population and Economy

1.2.2 Market Segments

1.2.2.1 Almost Equal Divided Between Life and Non-Life Segments
1.2.2.2 Increase in Life Segment Market Share Overtaking Non Life Segment
1.2.2.3 Motor Vehicle Largest Share in Non Life Segment
1.2.2.4 Significant Growth in Non-Life Segment, Driven by Vehicles Insurance

1.2.3 Market Density & Penetration

1.2.3.1 Low Per Capita Spent On Insurance, Low Participation Level
1.2.3.2 Low Penetration Levels, Particularly in Bancassurance
1.2.3.3 Low Penetration as Low Familiarization of Customers with Life Products

1.2.4 Market Share

1.2.4.1 Open Participation of Foreign Groups in Life as Well as Non-Life
1.2.4.2 Concentrated Life Segment, While Non-Life Little Fragmented
1.2.4.3 National Bank of Greece Leading Life and Non-Life Segments

2. Industry Analysis

2.1 Industry Developments

New Insurance Regulator
Licenses of 5 Greek Insurance Companies Suspended
Greek Stamp Duty on Insurance Contracts
Greece Has the Highest Pension Cost in the EU

2.2 Market Drivers

Strong Economic Growth
Population Growth
Spurt in Real Estate Market
Steady Vehicle Population Growth

3. Country Analysis: Risk Assessment

3.1 Political Environment
3.2 Macro-Economic Indicators: Current and Projections

4. Industry Outlook: Forecast and Projections

4.1 Rising Unemployment and Housing Debts to Affect the Life Insurance Segment
4.2 Decline in Consumer Demand and House Building to Impact Non-Life Segment

List of Tables

Key Macroeconomic Indicators: (2005 – 2010)

List of Graphs

Annual Premium – Greece Insurance Premiums: (2001-2008)
Greece Insurance Premiums by Segment (2001-2008)
Greece Life Insurance Share by Segments (2008)
Greece Non-Life Insurance Market Share by Segments (2008)
Greece Insurance Density (US$): (2001 – 2008)
Greece Insurance Penetration: (2001 – 2008)
Insurance Penetration Comparison of Greece (2000-2007)
Greece Life Insurance Players’ Market Share (2008)
Greece Non-Life Insurance Players Market Share (2008)
Greece GDP Growth (2001-2008)
Population Growth of Greece (2001-2008)
Housing Growth in Greece (2003-2008)
Growth in Motor Vehicles in Circulation in Greece (2001-2008)
Forecast: Greece Insurance Industry: (2008A - 2012F)
Forecast: Greece Life & Non-Life Insurance Industry: (2008A - 2012F)

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