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Insurers: The worst economic times are the best for us

29 May 2010 / 08:05:42  GRReporter
2525 reads

Victoria Mindova


A horizon with new bright possibilities for success and profits saw the long-term insurers in the field of pension, health and life insurances in Greece. The share of private pension and health insurances in the country is still relatively low with only 2% of the total market, having in mind that this indicator in Portugal is 7%. Monopoly is still held by the state owned social security funds. The crisis in social security in many European countries today, as well as the shaken confidence in public security in general, opens new opportunities for private insurers.

"The worst times, might be the best times," said with content the Chief person responsible for Europe of the international organization Million Dollar Round Table (MDRT) Matteo Pederzoli. The statement was made at a press conference in relation to the organizing an European Symposium of the insurers, which will be held in Athens at the beginning of next year. Matteo Pederzoli explained that Greece today is the "laboratory" in Europe, where the new and better ways of managing public finances are being explored. While public institutions recover from the financial collapse which followed after the height of the crisis, private insurers will enable consumers to benefit from the new insurance programs that provide financial peace of mind in the third age. “The bankrupt Greece, with the wealthy Greeks," as Pederzoli described the Mediterranean country gives great field of action and opportunities for new types of investments in the country.

The organization dates more than 80 years back in time and its beginning was set by a group of insurers in North America. The purpose of Million Dollar Round Table is to conduct trainings and improvement of qualification of the best in the insurance business throughout the world. Currently the organization has 35 thousand members worldwide, and among them are also the hundred best in their fields Greek insurers.

Tags: EconomyMarketsCompanies
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