The history of the Greek Association of Insurance Companies goes back in the 19th century, specifically in 1907 when “The Association of Greek Insurance Companies Against Fire” was founded.
The following 14 Greek Insurance Companies participated: Riunione Adriatica di Sicurta, Allianz Versicherungs A.G., North British & Mercantile Insurance Company Limited, Assicurazioni Generali de Trieste, Societe Anonyme d’ Assurance Generales “La Nationale”, Commercial Union Assurance Company Limited, Sun Fire Office, La Baloise, Royal Exhance Assurance, Rossia, Phenix Autrichien, Guardian Assurance Company Limited, Phenix Francais. In 1908 “Phoenix Assurance Co Ltd” also joined the Association.
Due to legal difficulties the Association was registered as a Union when its Articles were drafted in 1929. Today, the Articles are modified but still in effect. The Association’s action was multiple: it was represented in the Supervising Insurance Board and from 1929, in the Board of Commerce and Industry, that substituted the precedent, with a representative who expressed the opinion of the Association in insurance matters. Thus, shortly the Association became the main regulator of Greek insurance movement.
In 1987 the “Greek Institute for Insurance Education” was formed, and still remains the first educational organization fully specialized in insurance matters.
In 1992 the Association acquires its present name: “The Greek Association of Insurance Companies”.
The Association of Insurance Companies-Greece is a recognized professional union and its members are the insurance companies operating in Greece. The regular members of the Association are eighty-nine and provide their insureds with all modern insurance products not only in Greece but abroad too.
The primary aims of the Association of Insurance Companies-Greece are to develop, by any legal means, the institution of private insurance in our country but also to promote the moral, professional and financial interests of its members to the relevant ministries, to the institutions of the European Union and the international insurance institutions.
Today the Greek insurance market contributes greatly to our national economy and to the social stability by providing its insurance services.
The Association of Insurance Companies in Greece in order to achieve its goals upgrade continuously its role in the broader financial environment of our country.
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