Ethniki Insurance

Name

Ethniki Insurance

Legal name

THE ETHNIKI HELLENIC GENERAL INSURANCE COMPANY S.A.

Website

https://ethniki-asfalistiki.gr

Company type

Private

Founded year

1891

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241)

SIC

Insurance Carriers, Nec (6399), Accident & Health Insurance (6321), Life Insurance (6311), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Individual/Retail Critical Illness & Hospital Indemnity (FSAIAKAE)

akta.pro secondary industries

Universal Life (UL) Insurance (FSAIABAB), Group/Employer-Sponsored Critical Illness & Hospital Indemnity (FSAIAKAD), Ancillary & Supplemental Health Products (Accident/Critical Illness/Hospital Indemnity) (HLAEABAJ)

Keywords

• Life insurance products
• Health insurance plans
• Property insurance coverage
• Auto insurance policies
• Investment savings products

Headquarters

HQ city

Athens

HQ country

Greece

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Insurance Premiums - Life: Traditional and investment-linked life insurance products generating significant market share (18.3% life insurance market position in Greece). Includes savings, investment, and protection products for individual and corporate clients.
2. Insurance Premiums - Non-Life: Property, health, and auto insurance premiums. Health insurance includes individual and group plans (Full Health, Full Health Plus, Full Health Value). Auto insurance covers comprehensive vehicle protection. Property insurance protects homes and businesses.
3. Gross Written Premiums: Total premiums written across all insurance lines. The company generated €850 million in gross written premiums as of the acquisition by Piraeus Bank in late 2025.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Ethniki Insurance is a Greek general insurance company that underwrites and distributes life, health, auto, home/property, investment-linked savings, group, cyber, liability and natural catastrophe insurance products to individual consumers and businesses. The company operates a multi-channel distribution model with 130+ offices, 1,600+ tied agents and bancassurance partnerships, delivering policies and claims services to over 1.9 million policyholders in Greece.

Product overview

Ethniki Insurance (Εθνική Ασφαλιστική) is a long-established Greek general insurance company operating since 1891, serving over 1.9 million policyholders with a diversified portfolio of individual and business insurance products. Its core product suite spans Health & Life insurance (Full Health Value, Full Health Plus, Full Health Emergency Care, Life Insurance), Property & Home insurance (home, natural catastrophe coverage), Auto insurance (Auto Protect Classic/Extra/Privileged), Investment & Savings products (Full Bond 10, Full Life Plan, Full Capital Plan), and specialized lines including Full Cyber Protection, Card & Personal Belongings, Liability, and Group Insurance programs. These are supported by digital platforms including the MyEthniki customer portal (mobile app and web), the e-Omadika platform for group insurance claims processing, and the WebPay online payment portal. The company distributes through a network of over 130 sales offices, 1,600+ tied agents, 1,100+ non-tied agents, 130+ brokers, 6 physical branches, and National Bank of Greece branches across Greece.

Differentiator

Problem solved

Functional benefit

Brands

• MyEthniki: Mobile and web application for policyholders to manage their insurance policies, view coverage, make payments, and track claims.
• e-Omadika
• WebPay

Products and services

• Life Insurance (Ασφάλιση Ζωής) Life insurance products providing financial protection to families in the event of death, including coverage for borrowers and guarantors holding mortgage or consumer loans, and investment-linked savings plans. Targeted at individual consumers seeking family protection.
• Health Insurance (Full Health)

Quantifiable outcome

• 300,000+ health claims processed annually through AI-automated system
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability5 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered strategic and core.

• Qualco S.A.strategicStrategic or Co-development Partner · 29 May 2026Piraeus Bank (parent company) entered a partnership with Qualco S.A. to develop a Gen AI-powered digital mortgage platform, representing the broader strategic push toward digitalization that extends to Ethniki Insurance operations.
• KyndrylcoreTechnology or Integration · 12 May 2026Kyndryl expanded its collaboration with Ethniki Asfalistiki to further modernize the Greek insurer's mainframe environment hosted on Kyndryl zCloud. The collaboration, which began in 2021, aims to improve performance, agility, and resilience of mission-critical insurance systems supporting increasing demand for digital services.
• Affidea GreececoreTechnology or IntegrationAffidea Greece provides primary healthcare through its network of contracted physicians for Ethniki Insurance policyholders. Policyholders have access to Affidea's diagnostic centers and medical professionals as part of their health insurance coverage.
• HealthSpot (HHG Group)coreTechnology or IntegrationHealthSpot diagnostic centers operated by HHG Group (Hygeia Hellas) in Kifissia, Glyfada, Peristeri, Mykonos, and Santorini provide diagnostic services to Ethniki policyholders at preferential rates.
• Medical Group of AthenscoreTechnology or IntegrationMedical Group of Athens hospitals (YGEIA, METROPOLITAN Hospital, MITERA, METROPOLITAN General, LITO) provide contracted healthcare services for Ethniki Insurance health policyholders with direct billing arrangements.
• Hemithia Group (Ημιθέα)coreStrategic or Co-development PartnerEthniki Insurance policyholders receive enhanced health benefits and significant discounts at Hemithia Group hospitals (including Errikos Ntanan, Kyanos Stauros Thessalonikis, General Clinic Thessalonikis, General Clinic Rhodes, General Clinic Kozanis, Genesis, Arogi Rehabilitation Center) including free emergency visits, preferential diagnostic pricing, and reduced or zero co-pays for hospitalizations.
• AWP P&C S.A. (Mondial Assistance)coreTechnology or IntegrationMondial Assistance provides roadside assistance services for Ethniki Insurance auto policyholders in Greece and abroad. Services include on-site repair, vehicle transport to workshops, hotel accommodation coverage (€200 in Greece, €500 abroad), and vehicle repatriation for repairs exceeding 15 working days abroad.
• Carglass GreececoreTechnology or IntegrationCarglass provides windscreen repair and replacement services for Ethniki Insurance auto policyholders. Glass repairs are covered with no deductible for policyholders choosing Carglass service centers.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Interamerican (Anthem Greece / Achmea): One of Ethniki's largest direct competitors in the Greek multi-line insurance market, offering life, health, auto, and property insurance through tied agents and digital channels. Highly comparable in product mix, distribution model, and Greek market focus.
• Eurolife ERB Insurance Group: Greek multi-line insurer (life, health, property) operating through a bancassurance model with Eurobank. Directly comparable to Ethniki on product breadth, Greek-market focus, and bank-distribution strategy.
• NN Hellas (NN Group): Greek subsidiary of NN Group offering life, health, and pension products through tied agents and digital channels. Comparable as a foreign-affiliated multi-line life and health insurer in the Greek market with strong bancassurance ties.
• Generali Hellas: Greek arm of Generali Group offering life, health, auto, property, and investment products through agents and digital channels. Comparable multi-line insurer targeting the same Greek consumer and SME segments.
• Allianz Greece: Greek subsidiary of Allianz SE providing life, health, motor, and property insurance through a multi-channel distribution model. Comparable on global brand standards, multi-line product suite, and Greek market focus.
• AXA Hellas (AXA Group): Greek operations of AXA offering life, health, auto, and property insurance via agents, brokers, and digital channels. Directly comparable as a foreign-affiliated multi-line insurer with similar product mix.
• ERGO Hellas (ERGO Group / Munich Re): Greek subsidiary of Munich Re's ERGO Group offering property, motor, health, and life insurance through digital and agent channels. Comparable multi-line insurer in the Greek market with similar bancassurance-style partnerships.
• Groupama Phoenix (Greece): Greek insurance subsidiary of Groupama offering life, health, auto, and property insurance through a multi-channel model. Comparable as a multi-line insurer with deep Greek roots and similar distribution strategy.
• MetLife Greece: Greek subsidiary of MetLife offering life insurance and savings products through agents and bank partners. Comparable on life insurance focus and bancassurance distribution in Greece.

Regional players

• Prudential Greece: Greek subsidiary of Prudential plc providing life and savings products through tied agents and bank partnerships. Comparable as a foreign-affiliated life-insurance specialist with similar bancassurance distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@ethniki-asfalistiki
• Facebookfacebook.com/ethnikiasfalistiki
• LinkedInlinkedin.com/company/ethniki-asfalistiki
• Instagraminstagram.com/ethniki.asfalistiki

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ethniki Insurance