The insurance market is on a growth path in 2023, according to the annual statistical report "Private Insurance in Greece" by the Union of Insurance Companies of Greece.

The report, as noted in a statement, is the culmination of the statistical information issued by the EAEE during the year and presents the statistical figures resulting from the activity of insurance companies in Greece in 2023, the evolution of these figures in relation to previous years and information on the wider economic environment (Greek and European) in which they operate.

Although 2023 was a challenging year, the Greek economy maintained growth rates while the insurance market also showed growth, with insurance premium production increasing by 8.2% to €5.4 billion. Non-life insurance recorded an 11.7% increase compared to 2022 and life insurance maintained a steady upward trend with a 4.5% increase. The sector's contribution to the country's GDP reached 2.4% and total investment in 2023 reached EUR 17.2 billion.