Greece Life and Non Life Insurance Market Size & Share 2031

Name: Growth Market Reports
Address: 500 East E Street, Ontario, 91764, USA
Telephone: +1 909 414 1393

Segments - Greece Life and Non-life Insurance Market by Distribution Channels (Banks, Direct, Agency, and Others), Insurance Types (Non-life Insurance [Motor, Home, and Others] and Life Insurance [Group and Individual]), and Country (Greece) - Greece Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Swarup Sahu

Fact-checked by : V. Chandola

Editor : Ranjit Pankhade

Report Description

Greece Market Trends Drivers Restraints and Opportunities
Scope of Greece Market Report
Greece Market Segment Insights

Segments
Table Of Content
Methodology
Related Reports

Customize This Report

Ask for Research To Be Focused On Specific Regions or Segments
Receive Data As Per Your Format and Definition
Companies Profiled based on Your Requirements
Breaking Down Competitive Landscape as per Your Requirements
Any Level of Customization

Request for Customization

Get free sample report Speak With Analyst Purchase Premium Report

Growth Market Report Certified By

Quick Contact

+1 909 414 1393

sales@growthmarketreports.com

Report Description

The Greece life and non-life insurance market size was valued at USD 2.8 Billion in 2022 and is anticipated to reach USD 4.27 Billion by 2031, expanding at a CAGR of 4.8% during the forecast period between 2023 and 2031. The growth of the market is attributed to the formation of innovative services that address a variety of risks linked with the current market situation in the country.

Life insurance can be described as a contract between an insurance company and a policy holder (insured) that the former promises to pay a beneficiary amount on the demise of the later. Under the contract, a specified sum of money is liable to pay by the company to the family or beneficiary as mentioned in the contract upon the death of the policy holder.

Greece Life and Non Life Insurance Market Outlook

However, non-life insurance is a type of insurance that compensates the insured for financial losses caused by unprecedented events or accidents such as accidental fire. General insurance, property insurance, and casualty insurance are major terms that come under the category of non-life insurance. Any sort of insurance that is not included in life insurance can be classified as non-life insurance. Non-life insurance policies cover a person's finances in the case of a health crisis or asset loss whereas life insurance is related to providing beneficiary amount to the family in the case of the policyholder's death.

The impact of COVID-19 pandemic has been positive on the life and non-life insurance market. Rising awareness related to importance of insurance and its benefit during the ongoing pandemic is expected to spur the market during the projected period.

Greece Life and Non-life Insurance Market Trends, Drivers, Restraints, and Opportunities

Better regulatory policies along with better management of insurance policy claims is one of the key factors driving the market growth.
Growing working-class population in the country is expected to boost the market in the coming years.
Improvement in distribution channels and innovation in life insurance offerings is anticipated to propel the market during the projected period.
Lack of trust and mismanagement related to insurance presents a major challenge. This is anticipated to hamper the market growth in the projected period.
Rising interest in life insurance products among people is projected to create significant growth opportunities for the market in the near future.

Scope of Greece Life and Non-life Insurance Market Report

The report on the Greece life and non-life insurance market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Life and Non-life Insurance Market - Greece Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Distribution Channels (Banks, Direct, Agency, and Others) and Insurance Types (Non-life Insurance [Motor, Home, and Others] and Life Insurance [Group and Individual])
Country	Greece
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Eurolife ERB Life Insurance S.A.; Axa S.A.; Ethniki, Hellenic General Insurance Co. S.A.; NN Hellenic Life Insurance Co., S.A.; and ERGO Insurance Company S.A.

Greece Life and Non-life Insurance Market Segment Insights

Based on distribution channels, the Greece life and non-life insurance market is divided into banks, direct, agency, and others. The banks segment is expected to grow at a rapid pace during the forecast period owing to increased penetration of internet banking and applications across the region. However, the agency segment is anticipated to hold a key share of the market in the coming years due to rising awareness of consumers about insurance policies with the agency assistance.

On the basis of insurance types, the market is bifurcated into non-life insurance and life insurance. The non-life insurance segment is further divided into motor, home, and others, while the life insurance segment is divided into group and individual.

The non-life insurance segment is projected to expand at a considerable CAGR during the forecast period attributed to rising number of policy holders for their car insurance, impacted by increasing production and demand for passenger cars. On the other hand, the life insurance segment is anticipated to account for a major market share during the forecast period due to growing awareness for various policies and benefits related to life insurance.

Life and Non Life Insurance Market Insurance Type

Segments

The Greece life and non-life insurance market has been segmented on the basis of

Distribution Channels

Banks
Direct
Agency
Others

Insurance Types

Non-life Insurance
- Motor
- Home
- Others
Life Insurance
- Group
- Individual

Country

Greece

Key Players

Eurolife ERB Life Insurance S.A.
Axa S.A.
Ethniki, Hellenic General Insurance Co. S.A.
NN Hellenic Life Insurance Co., S.A.
ERGO Insurance Company S.A.

Competitive Landscape

Key players competing in the Greece life and non-life insurance market are Eurolife ERB Life Insurance S.A.; Axa S.A.; Ethniki, Hellenic General Insurance Co. S.A.; NN Hellenic Life Insurance Co., S.A.; and ERGO Insurance Company S.A.

As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives such as partnerships, collaborations, and mergers & acquisitions. Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.

Life and Non Life Insurance Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Life and Non-life Insurance Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Life and Non-life Insurance Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Life and Non-life Insurance Market - Supply Chain
  4.5. Global Life and Non-life Insurance Market Forecast
     4.5.1. Life and Non-life Insurance Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Life and Non-life Insurance Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Life and Non-life Insurance Market Absolute $ Opportunity
5. Global Life and Non-life Insurance Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Life and Non-life Insurance Market Size and Volume Forecast by Types
     5.3.1. Non-life Insurance
     5.3.2. Life Insurance
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Life and Non-life Insurance Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Life and Non-life Insurance Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Life and Non-life Insurance Demand Share Forecast, 2019-2026
7. North America Life and Non-life Insurance Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Life and Non-life Insurance Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Life and Non-life Insurance Market Size and Volume Forecast by Types
     7.4.1. Non-life Insurance
     7.4.2. Life Insurance
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Life and Non-life Insurance Demand Share Forecast, 2019-2026
8. Latin America Life and Non-life Insurance Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Life and Non-life Insurance Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Life and Non-life Insurance Market Size and Volume Forecast by Types
     8.4.1. Non-life Insurance
     8.4.2. Life Insurance
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Life and Non-life Insurance Demand Share Forecast, 2019-2026
9. Europe Life and Non-life Insurance Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Life and Non-life Insurance Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Life and Non-life Insurance Market Size and Volume Forecast by Types
     9.4.1. Non-life Insurance
     9.4.2. Life Insurance
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Life and Non-life Insurance Demand Share Forecast, 2019-2026
10. Asia Pacific Life and Non-life Insurance Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Life and Non-life Insurance Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Life and Non-life Insurance Market Size and Volume Forecast by Types
     10.4.1. Non-life Insurance
     10.4.2. Life Insurance
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Life and Non-life Insurance Demand Share Forecast, 2019-2026
11. Middle East & Africa Life and Non-life Insurance Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Life and Non-life Insurance Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Life and Non-life Insurance Market Size and Volume Forecast by Types
     11.4.1. Non-life Insurance
     11.4.2. Life Insurance
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Life and Non-life Insurance Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Life and Non-life Insurance Market: Market Share Analysis
  12.2. Life and Non-life Insurance Distributors and Customers
  12.3. Life and Non-life Insurance Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Eurolife ERB Life Insurance S.A.
     12.4.2. Axa S.A.
     12.4.3. Ethniki, Hellenic General Insurance Co. S.A.
     12.4.4. NN Hellenic Life Insurance Co., S.A.
     12.4.5. ERGO Insurance Company S.A.