Insurance turnover posts growth
The year’s first five months showed an increase in the insurance business by 12.1%, compared to January-May 2023, part of which is fueled by the increase in premiums, as well as the growth in sales for residential and business insurance after the catastrophic advent of Storm Daniel last September.
Total premiums amounted to 2.3 billion euros, of which €1.1 billion are life insurance premiums and another €1.2 billion are premiums for general insurance, which also includes health premiums, which have jumped mainly due to the large increases in which the companies in the sector have progressed.
According to the data of the Association of Insurance Companies of Greece (EAEE), the volume of the accidents sector, which includes the annually renewed hospital programs, is in the order of 11.8%, raising the total premiums of the sector to €217.3 million.
Premiums in the life insurance category, which in addition to life coverage also includes lifetime health coverage sold in the past – so-called legacy hospital policies – rose by 6.5% and incorporate increases for those plans that jumped in 2024 and even up to 15%.
The EAEE data also show a significant rise of 38.5% in unit linked investment contracts, whose premiums amounted to €474.4 million.
