The insurance market is currently facing significant challenges, Bank of Greece Governor Yannis Stournaras said at a meeting of the Groupama Assurances Mutuelles management team at the Acropolis Museum on Wednesday.
Stournaras stressed that adapting to new regulatory requirements, leveraging the opportunities offered by digital transformation, and effectively managing risks are key prerequisites for the sustainable development of the insurance sector.
“Insurance companies that successfully respond to these challenges will be able to lead the market, offering reliable and meaningful solutions for the Greek economy and society. In this direction, the Bank of Greece will continue to work consistently so that both supervised entities and consumers feel – and above all are – secure,” he noted.
Referring to the importance of private insurance, the governor underlined that insurance companies assume, on behalf of policyholders, a wide range of risks, while at the same time channeling the funds they collect through premiums into the financial system. In this way, they act as significant institutional investors, substantially contributing to the strengthening of economic activity.
