Hellenic Association of Insurance Companies: Ιnsurance premium production up 4.6 pct in 2016

Insurance premium production grew 4.6 pct totaling 3.78 billion euros in 2016, the Hellenic Association of Insurance Companies (EAEE) said on Friday.

In a survey, conducted on 56 insurance companies and members of EAEE representing around 97.1 pct of total premium production, the Association said that life insurance premium production totaled 1.91 billion euros in 2016, up 6.1 pct from the previous year, while damage insurance premium production totaled 1.87 billion euros, up 3.1 pct.

Dimitris Mazarakis, president of EAEE, commenting on the results said: “Premium production in 2016 offered satisfaction for last year and optimism for the current year, but at the same time, uncertainty and instability in the domestic political and economic environment, a continuing reduction of available incomes, a prevailing environment of low interest rates and continuous increasing demands by the supervisory framework offered no room for complacency, but a need for alert and constant adjustment to new data and challenges”.