BoG sees challenges for insurance sector

The security marketplace is presently facing important challenges, Bank of Greece Governor Yannis Stournaras said astatine a gathering of the Groupama Assurances Mutuelles absorption team astatine the Acropolis Museum connected Wednesday.

Stournaras stressed that adapting to caller regulatory requirements, leveraging the opportunities offered by integer transformation, and efficaciously managing risks are cardinal prerequisites for the sustainable improvement of the security sector.

“Insurance companies that successfully respond to these challenges will beryllium capable to pb the market, offering reliable and meaningful solutions for the Greek system and society. In this direction, the Bank of Greece will proceed to work consistently so that some supervised entities and consumers consciousness – and supra each are – secure,” helium noted.

Referring to the value of backstage insurance, the politician underlined that security companies assume, connected behalf of policyholders, a wide scope of risks, while astatine the aforesaid clip channeling the funds they cod done premiums into the fiscal system. In this way, they enactment arsenic important organization investors, substantially contributing to the strengthening of economical activity.