According to EIOPA data, 18% of the total insurance production corresponds to the Service Provider Companies – EPY in Greece.
In particular, in the last five years, approximately 230-250 companies have been active in our country that operate under the EPY regime, i.e. they have their headquarters in an EU or EEA member state and are supervised by the authority of the state where their headquarters are located. The Greek supervisory authority can intervene for reasons exclusively of public interest. In 2022, the EPY, which mainly work in car insurance, had a production of 1,084 million euros in premiums.
About 20 branch companies with headquarters in another country also operate in Greece. These have a production share of 5% and premiums of 288 million in the previous year.
With regard to the market of civil liability insurance for land vehicles, within the first half of 2023 the share (in number of vehicles) of insurance companies based in another member state operating with free provision of services or free establishment status increased and reached 21 % from 20% on 31.12.2022.