Life Report

Product Insurance Market Reports Life Rev Greece

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice


  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Greece's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Greece's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Greece

The Greece life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Greece.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Greece and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Greece’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Greece is available.

Axco’s report describes the regulatory framework that applies to Greece's domestic life insurance sector, including whether non-admitted insurance is permitted in Greece; as well as the legislation necessary to know regarding Greece’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Greece with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Greek market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Greece, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Greek pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Greece report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Greece Life and Benefits Report Extract

Below are brief extracts of information from the Greece Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

In 2020 overall life premiums showed a decrease of 8% compared to 2019, based on the build-up of quarterly figures. There is some distortion of the figures for life sickness riders now reported as non-life, (Class 2), which grew by 9.7% in 2020, according to EAEE.

The breakdown of statistics between group and individual business in 2020 was 89% individual and 11% group life. In 2020 traditional products, that is, whole life, endowment assurance and pure endowments along with other life accounted for 67% of total premiums ....


There had been widespread discussions taking place on the future of pensions systems in Greece, in particular around pillar I contributions. According to market sources the three-pillar system only exists in theory, since an estimated 95% of pensions is pillar I, EFKA schemes, whilst occupational pensions and insured plans are underdeveloped. Employers lack sufficient funds to offer a full range of subsidised benefits to their employees, and so focus on offering life and health benefits which are more immediately appreciated by employees, particularly as state hospitals are considered ....


The public health system in Greece provides free or low-cost healthcare services to residents and their families contributing to the social security system. In practice, however, there is a parallel system in operation, favouring higher paid employees covered by occupational social insurance funds entitling them to a higher and speedier standard of hospital treatment.

The Electronic National Social Insurance Agency (e-EFKA) is the government body operating Greece's national pension and healthcare ....

Back to Report Store

You may also be interested in these reports...


Ready to talk? We're here to help.

Whether you need more information or to discuss which products are best suited to your needs, our dedicated team are here to help.

Get in touch