New Publication: In-Depth – Insurance and Reinsurance Law
(chapter drafted by Dr Dimitrios Chatzimichael, Partner, Xenia Kretsovali and Xenia Lymperopoulou, Associates for Lexology-in Depth on June 2, 2025)
We are pleased to share that Dr. Dimitrios Chatzimichael (Partner), Xenia Kretsovali, and Xenia Lymperopoulou (Associates) have contributed to the latest edition of Lexology In-Depth: Insurance and Reinsurance Law (formerly The Insurance and Reinsurance Law Review).
This authoritative guide provides a comprehensive overview of the legal and regulatory frameworks that govern the insurance and reinsurance sectors across key jurisdictions. It focuses on recent legal developments and offers practical insights into:
- Key regulatory challenges facing insurers and intermediaries
- Best practices in drafting and interpreting insurance contracts
- Emerging issues in claims processing and dispute resolution
- Legislative trends and market dynamics in the global insurance industry
The publication serves as a valuable resource for legal professionals, insurers, brokers, and regulators seeking to understand the evolving landscape of insurance and reinsurance law.
Introduction
The insurance undertakings in Greece are distinguished into those practising life
insurance, those practising non-life insurance, and the composite ones that practise
both (life and non-life), depending on the relevant licence granted by the supervisory
authority, the Bank of Greece (BoG). The Greek insurance market’s overall gross premium
production is significantly lower than the EU average, among others, due to the extensive
social security system that covers a substantial portion of private insurance activities,
such as compensation in the case of an accident at work. However, according to a
survey conducted by the Hellenic Association of Insurance Companies (HAIC) among its
members, the total premium production in 0408 increased by 7.€ per cent compared to the
previous year, reaching 56.97 billion. HACI2’s statistics specifically indicate that in 2024, the
gross premium production increased by 7.9 per cent in life insurance and by 9.4 per cent
in non-life insurance.
The role of insurance intermediaries is very important in the Greek market, as most
insurance policies are concluded through an insurance intermediary, while only a small
percentage is concluded by means of direct sales. There is a notable trend towards
concentration in both markets, of insurance undertakings and insurance intermediaries.
There are a great deal of EU-based entities operating in Greece via the regime of
establishment or the freedom of services, and very few examples of non-EEA undertakings
that have established a licensed branch in Greece.
👉 Access the full article of Lexology In-Depth: Insurance and Reinsurance Law here: [Greece]
