Personal Accident and Health Insurance in Greece, Key Trends and Opportunities to 2017

Published: Feb, 2014 | Pages: 205 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in depth market analysis, information and insights into the Greek personal accident and health insurance segment, including:
The Greek personal accident and health insurance segment's growth prospects by insurance categories 
Key trends and drivers for the personal accident and health insurance segment 
The various distribution channels in the Greek personal accident and health insurance segment
The detailed competitive landscape in the personal accident and health insurance segment in Greece
Regulatory policies of the Greek insurance industry
A description of the personal accident and health reinsurance segment in Greece
Porter's Five Forces Analysis of the personal accident and health insurance segment 

Summary
The Greek personal accident and health insurance segment accounted for the lowest share of premiums in the overall insurance industry in 2012. Demand for healthcare services and private health insurance increased during the review period (2008-2012), due to the inadequate service provided by public healthcare institutions and increasing per capita healthcare expenditure. Travel insurance accounted for the largest share of the segment. Growth in the category was supported by the introduction of low-cost airlines which increased the number of outbound tourists. Over the forecast period (2012-2017), the growth of the personal accident and health segment is expected to be driven by the travel and health insurance categories. Overall, the value of the Greek personal accident and health segment is expected to increase at a forecast-period compound annual growth rate (CAGR) of 5.5%. 
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 report's 2008-2012 review period and projected figures for the 2012-2017 forecast period.
It offers a detailed analysis of the key categories in the Greek personal accident and health insurance segment, along with market forecasts until 2017.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
It analyses the various distribution channels for personal accident and health insurance products in Greece.
Using Porter's industry-standard Five Forces analysis, it details the competitive landscape in Greece for the personal accident and health insurance segment.
It provides a detailed analysis of the reinsurance segment in Greece and its growth prospects.
It profiles the top personal accident and health insurance companies in Greece and outlines the key regulations affecting them. 
Reason 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 within the Greek personal accident and health insurance segment.
Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment.
Identify the growth opportunities and market dynamics within key product categories.
Gain insights into key regulations governing the Greek insurance segment and its impact on companies and the market's future. 
Key Highlights
 In terms of gross written premiums, the personal accident and health segment accounted for the lowest market share of the Greek insurance industry in 2012
During the review period, travel insurance dominated the personal accident and health segment with a 57.2% share of premiums
Agencies' share of personal accident and health policies sold increased from 50.9% in 2008 to 52.1% in 2012
The health category recorded the highest CAGR of 21.6% within the personal accident and health segment during the review period
The introduction of low-cost carriers encouraged more Greeks to travel abroad; in 2012, 2 million citizens traveled abroad, spending approximately EUR 0.78 billion (US$1 billion)

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Greek Insurance Industry Attractiveness
3.1 Insurance Industry Size, 2008-2017
3.2 Key Industry Trends and Drivers
4 Persol Accident and Health Insurance Segment Outlook
4.1 Persol Accident and Health Insurance Growth Prospects by Category
4.1.1 Persol accident
4.1.2 Travel insurance
4.1.3 Health insurance
5 Alysis by Distribution Channels
5.1 Direct Marketing
5.2 Bancassurance
5.3 Agencies
5.4 E-commerce
5.5 Brokers
5.6 Other Channels
6 Porter's Five Forces Alysis - Greek Persol Accident and Health Insurance
6.1 Bargaining Power of Supplier: Medium
6.2 Bargaining Power of Buyer: Medium to High
6.3 Barriers to Entry: Medium
6.4 Intensity of Rivalry: Medium
6.5 Threat of Substitutes: Low
7 Reinsurance Growth Dymics and Challenges
7.1 Reinsurance Segment Size, 2008-2017
7.2 Reinsurance Segment size by Type of Insurance, 2008-2017
8 Governce, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Regulations by Type of Insurance
8.2.1 Life insurance regulations
8.2.2 Property insurance regulations
8.2.3 Motor insurance regulations
8.2.4 Marine, aviation and transit insurance regulations
8.2.5 Persol accident and health insurance regulations
8.3 Compulsory Insurance
8.3.1 Workmen's compensation insurance
8.3.2 Motor third-party liability insurance
8.3.3 Air carriers and aircraft operators insurance
8.4 Supervision and Control
8.4.1 Intertiol Association of Insurance Supervisors
8.4.2 European Insurance and Occupatiol Pensions Authority (EIOPA)
8.4.3 Department of Private Insurance Supervision (DOPIS)
8.5 Non-Admitted Insurance Regulations
8.5.1 Overview
8.5.2 Intermediaries
8.5.3 Market practices
8.5.4 Fines and pelties
8.6 Company Registration and Operations
8.6.1 Types of insurance organization
8.6.2 Establishing a local company
8.6.3 Foreign ownership
8.6.4 Types of license
8.6.5 Capital requirements
8.6.6 Solvency margins
8.6.7 Reserve requirements
8.6.8 Investment regulations
8.6.9 Statutory return requirements
8.6.10 Fee structure
8.7 Taxation
8.7.1 Insurance premium or policy taxation
8.7.2 Withholding taxes on premium paid overseas
8.7.3 Corporate tax
8.7.4 VAT
8.7.5 Captives
8.8 Legal System
8.8.1 Introduction
8.8.2 Access to court
8.8.3 Altertive dispute resolution (ADR)
9 Competitive Landscape and Strategic Insights
9.1 Leading Companies
9.2 Metlife Alico - Company Overview
9.2.1 Metlife Alico - key facts
9.3 ING Greek Life Insurance Company SA - Company Overview
9.3.1 ING Greek Life Insurance Company SA - key facts
9.4 Eurolife - Company Overview
9.4.1 Eurolife - key facts
10 Business Environment and Country Risk
10.1 Business Confidence
10.1.1 Market capitalization trend - Athens Stock Exchange, Greece
10.2 Economic Performance
10.2.1 GDP at constant prices (US$)
10.2.2 GDP per capita at constant prices (US$)
10.2.3 GDP at current prices (US$)
10.2.4 GDP per capita at current prices (US$)
10.2.5 GDP by key segments
10.2.6 Agriculture net output at current prices (US$)
10.2.7 Agriculture net output at current prices as a percentage of GDP
10.2.8 Manufacturing net output at current prices (US$)
10.2.9 Manufacturing net output at current prices as a percentage of GDP
10.2.10 Mining, manufacturing and utilities at current prices (US$)
10.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
10.2.12 Construction net output at current prices, (US$)
10.2.13 Construction net output at current prices as a percentage of GDP
10.2.14 Inflation rate
10.2.15 Exports as a percentage of GDP
10.2.16 Imports as a percentage of GDP
10.2.17 Merchandise exports growth
10.2.18 Merchandise Imports growth
10.2.19 Annual average exchange rate, Euro-US$
10.3 Infrastructure Quality and Availability
10.3.1 Commercial vehicles exports - total value
10.3.2 Commercial vehicles imports - total value
10.3.3 Automotive exports - total value
10.3.4 Automotive imports - total value
10.3.5 Total internet subscribers
10.4 Labor Force
10.4.1 Labor force
10.4.2 Unemployment rate
10.5 Demographics
10.5.1 Gross tiol disposable income (US$)
10.5.2 Household consumption expenditure (US$)
10.5.3 Total population
10.5.4 Urban and rural populations
10.5.5 Age distribution of the total population
11 Appendix
11.1 Methodology
11.2 Contact Timetric
11.3 About Timetric
11.4 Timetric's Services
11.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Greek Insurance - Overall Written Premium by Segment (EUR Billion), 2008-2012
Table 3: Greek Insurance - Overall Written Premium by Segment (US$ Billion), 2008-2012
Table 4: Greek Insurance - Overall Written Premium by Segment (EUR Billion), 2012-2017
Table 5: Greek Insurance - Overall Written Premium by Segment (US$ Billion), 2012-2017
Table 6: Greek Insurance - Segmentation (Percentage Share), 2008-2017
Table 7: Greek Persol Accident and Health Insurance - Written Premium by Category (EUR Million), 2008-2012
Table 8: Greek Persol Accident and Health Insurance - Written Premium by Category (US$ Million), 2008-2012
Table 9: Greek Persol Accident and Health Insurance - Written Premium by Category (EUR Million), 2012-2017
Table 10: Greek Persol Accident and Health Insurance - Written Premium by Category (US$ Million), 2012-2017
Table 11: Greek Persol Accident and Health Insurance - Earned Premium (EUR Million), 2008-2012
Table 12: Greek Persol Accident and Health Insurance - Earned Premium (EUR Million), 2012-2017
Table 13: Greek Persol Accident and Health Insurance - Paid Claims by Category (EUR Million), 2008-2012
Table 14: Greek Persol Accident and Health Insurance - Paid Claims by Category (US$ Million), 2008-2012
Table 15: Greek Persol Accident and Health Insurance - Paid Claims by Category (EUR Million), 2012-2017
Table 16: Greek Persol Accident and Health Insurance - Paid Claims by Category (US$ Million), 2012-2017
Table 17: Greek Persol Accident and Health Insurance - Incurred Loss by Category (EUR Million), 2008-2012
Table 18: Greek Persol Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2008-2012
Table 19: Greek Persol Accident and Health Insurance - Incurred Loss by Category (EUR Million), 2012-2017
Table 20: Greek Persol Accident and Health Insurance - Incurred Loss by Category (US$ Million), 2012-2017
Table 21: Greek Persol Accident and Health Insurance - Loss Ratio (%), 2008-2012
Table 22: Greek Persol Accident and Health Insurance - Loss Ratio (%), 2012-2017
Table 23: Greek Persol Accident and Health Insurance - Commission and Expenses (EUR Million), 2008-2012
Table 24: Greek Persol Accident and Health Insurance - Commission and Expenses (EUR Million), 2012-2017
Table 25: Greek Persol Accident and Health Insurance - Combined Ratio (%), 2008-2012
Table 26: Greek Persol Accident and Health Insurance - Combined Ratio (%), 2012-2017
Table 27: Greek Persol Accident and Health Insurance - Fraud and Crimes (EUR Million), 2008-2012
Table 28: Greek Persol Accident and Health Insurance - Fraud and Crimes (EUR Million), 2012-2017
Table 29: Greek Persol Accident and Health Insurance - Total Assets (EUR Million), 2008-2012
Table 30: Greek Persol Accident and Health Insurance - Total Assets (EUR Million), 2012-2017
Table 31: Greek Persol Accident and Health Insurance - Total Investment Income (EUR Million), 2008-2012
Table 32: Greek Persol Accident and Health Insurance - Total Investment Income (EUR Million), 2012-2017
Table 33: Greek Persol Accident and Health Insurance - Retentions (EUR Million), 2008-2012
Table 34: Greek Persol Accident and Health Insurance - Retentions (EUR Million), 2012-2017
Table 35: Greek Persol Accident Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 36: Greek Persol Accident Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 37: Greek Persol Accident Insurance - Written Premium (EUR Million), 2008-2012
Table 38: Greek Persol Accident Insurance - Written Premium (EUR Million), 2012-2017
Table 39: Greek Persol Accident Insurance - Loss Ratio (%), 2008-2012
Table 40: Greek Persol Accident Insurance - Loss Ratio (%), 2012-2017
Table 41: Greek Travel Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 42: Greek Travel Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 43: Greek Travel Insurance - Written Premium (EUR Million), 2008-2012
Table 44: Greek Travel Insurance - Written Premium (EUR Million), 2012-2017
Table 45: Greek Travel Insurance - Loss Ratio (%), 2008-2012
Table 46: Greek Travel Insurance - Loss Ratio (%), 2012-2017
Table 47: Greek Health Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 48: Greek Health Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 49: Greek Health Insurance - Written Premium (EUR Million), 2008-2012
Table 50: Greek Health Insurance - Written Premium (EUR Million), 2012-2017
Table 51: Greek Health Insurance - Loss Ratio (%), 2008-2012
Table 52: Greek Health Insurance - Loss Ratio (%), 2012-2017
Table 53: Greek Persol Accident and Health Insurance - Direct Marketing Commission Paid (EUR Million), 2008-2012
Table 54: Greek Persol Accident and Health Insurance - Direct Marketing Commission Paid (EUR Million), 2012-2017
Table 55: Greek Persol Accident and Health Insurance - Written Premium Through Direct Marketing (EUR Million), 2008-2012
Table 56: Greek Persol Accident and Health Insurance - Written Premium Through Direct Marketing (EUR Million), 2012-2017
Table 57: Greek Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2008-2012
Table 58: Greek Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2012-2017
Table 59: Greek Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2008-2012
Table 60: Greek Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2012-2017
Table 61: Greek Persol Accident and Health Insurance - Bancassurance Commission Paid (EUR Million), 2008-2012
Table 62: Greek Persol Accident and Health Insurance - Bancassurance Commission Paid (EUR Million), 2012-2017
Table 63: Greek Persol Accident and Health Insurance - Written Premium Through Bancassurance (EUR Million), 2008-2012
Table 64: Greek Persol Accident and Health Insurance - Written Premium Through Bancassurance (EUR Million), 2012-2017
Table 65: Greek Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2008-2012
Table 66: Greek Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2012-2017
Table 67: Greek Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2008-2012
Table 68: Greek Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2012-2017
Table 69: Greek Persol Accident and Health Insurance - Commission Paid to Agencies (EUR Million), 2008-2012
Table 70: Greek Persol Accident and Health Insurance - Commission Paid to Agencies (EUR Million), 2012-2017
Table 71: Greek Persol Accident and Health Insurance - Written Premium Through Agencies (EUR Million), 2008-2012
Table 72: Greek Persol Accident and Health Insurance - Written Premium Through Agencies (EUR Million), 2012-2017
Table 73: Greek Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2008-2012
Table 74: Greek Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2012-2017
Table 75: Greek Persol Accident and Health Insurance - Number of Agencies, 2008-2012
Table 76: Greek Persol Accident and Health Insurance - Number of Agencies, 2012-2017
Table 77: Greek Persol Accident and Health Insurance - E-Commerce Commission Paid (EUR Million), 2008-2012
Table 78: Greek Persol Accident and Health Insurance - E-Commerce Commission Paid (EUR Million), 2012-2017
Table 79: Greek Persol Accident and Health Insurance - Written Premium Through E-Commerce (EUR Million), 2008-2012
Table 80: Greek Persol Accident and Health Insurance - Written Premium Through E-Commerce (EUR Million), 2012-2017
Table 81: Greek Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2008-2012
Table 82: Greek Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2012-2017
Table 83: Greek Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2008-2012
Table 84: Greek Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2012-2017
Table 85: Greek Persol Accident and Health Insurance - Commission Paid to Brokers (EUR Million), 2008-2012
Table 86: Greek Persol Accident and Health Insurance - Commission Paid to Brokers (EUR Million), 2012-2017
Table 87: Greek Persol Accident and Health Insurance - Written Premium Through Brokers (EUR Million), 2008-2012
Table 88: Greek Persol Accident and Health Insurance - Written Premium Through Brokers (EUR Million), 2012-2017
Table 89: Greek Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2008-2012
Table 90: Greek Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2012-2017
Table 91: Greek Persol Accident and Health Insurance - Number of Brokers, 2008-2012
Table 92: Greek Persol Accident and Health Insurance - Number of Brokers, 2012-2017
Table 93: Greek Persol Accident and Health Insurance - Commission Paid to Other Channels (EUR Million), 2008-2012
Table 94: Greek Persol Accident and Health Insurance - Commission Paid to Other Channels (EUR Million), 2012-2017
Table 95: Greek Persol Accident and Health Insurance - Written Premium Through Other Channels (EUR Million), 2008-2012
Table 96: Greek Persol Accident and Health Insurance - Written Premium Through Other Channels (EUR Million), 2012-2017
Table 97: Greek Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2008-2012
Table 98: Greek Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2012-2017
Table 99: Greek Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2008-2012
Table 100: Greek Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2012-2017
Table 101: Greek Reinsurance by Category (EUR Billion), 2008-2012
Table 102: Greek Reinsurance by Category (US$ Billion), 2008-2012
Table 103: Greek Reinsurance by Category (EUR Billion), 2012-2017
Table 104: Greek Reinsurance by Category (US$ Billion), 2012-2017
Table 105: Greek Premium Ceded to Reinsurance by Type of Insurance (EUR Billion), 2008-2012
Table 106: Greek Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008-2012
Table 107: Greek Premium Ceded to Reinsurance by Type of Insurance (EUR Billion), 2012-2017
Table 108: Greek Premium Ceded to Reinsurance by Type of Insurance(US$ Billion), 2012-2017
Table 109: Greek Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 110: Greek Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 111: Greece - Life Insurance Regulatory Framework
Table 112: Greece - Property Insurance Regulatory Framework
Table 113: Greece - Motor Insurance Regulatory Framework
Table 114: Greece - Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 115: Greece - Insurance Premium Tax Rates for the Fincial Year 2013
Table 116: Greece - Corporate Tax Rates for the Fincial Year 2013
Table 117: Leading Companies in the Greek Persol Accident and Health Insurance Segment, 2013
Table 118: Metlife Alico, Key Facts
Table 119: ING Greek Life Insurance Company SA, Key Facts
Table 120: Eurolife, Key Facts