His belief that we have come close to end of interest rate hikes expressed the governor of the Bank of Greece Giannis Stournaras, speaking at a conference of the Union of Insurance Companies of Greece.

He estimated that the country is close to obtaining the investment grade.

As stated by the commander of the CoE “The Greek economy and the Greek banks went through a major crisis, through three memoranda, and that was good for us» to confirm that Greek banks have sufficient liquidity.

Regarding the insurance companies, the governor of the Bank of Greece argued that they can play a dual role in climate change mitigation and adaptation: as risk managers, but also as investors, directing their funds to actions that contribute to climate policies, mitigation and adaptation.

Regarding private insurance, he pointed out that the pandemic, as well as the recent natural disasters, highlighted beyond any doubt the lack of private insurance for Greek consumers.

Mostly, however, they pointed out that this deficit is only partially due to their own personal perceptions of insurance. As he said, “the deficit is basically due to an inability of the state to recognize private insurance as a means of protection against the financial effects of personal or business risks, and indeed complementary, and not competitive, to existing state and social mechanisms».

As the governor of the Bank of Greece mentioned, the introduction of incentives that would facilitate the increase of the hitherto low rate of insurance penetration that characterizes the Greece compared to the European average.