A majority of the board of directors of every Greek insurance company must consist of Greek/EU citizens.
"Article 2 - Scope of use of the term insurer (Article 2 of Directive 2009/138 / EC)
1 . The provisions of this law apply:
(a) to reinsurance undertakings established in Greece, or wishing to acquire a registered office in Greece, for all life and non-life insurance undertakings which they carry out within the European Union, whether under establishment or freedom to provide services;
(b) to reinsurance undertakings; and who carry out only reinsurance activities, established in Greece, or who wish to acquire a seat in Greece, for all reinsurance operations carried out within the European Union, either under the status of establishment or freedom to provide services, with the exception of the provisions of Part Four currently,
c) insurance and reinsurance undertakings established in a third country operating in Greece, under the provisions of Chapter I of this Part,
d) insurance and reinsurance undertakings established in any Member State of the European Union operating in Greece either under establishment or under the freedom to provide services, in accordance with the provisions of Chapter H of this Part.
[...]
Article 29 - Responsibility of the Management Board - members of the Management Board (Article 40 of Directive 2009/138 / EC) [...]
3 . The board of directors of every Greek insurance company consists of a majority of Greek citizens or citizens of other Member States of the European Union.[...]" (Law on private insurance (4364/2016), subsequently amended, Articles 2 and 29 [google translation based on unofficial text at kodiko.gr])
Law on private insurance (4364/2016), subsequently amended, Articles 2 and 29
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