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29 November 2019
Significant increase of all financial figures for the 9-month period of 2019
European Reliance General Insurance Co S.A. presented significant increase of all financial figures for the 9-month period of 2019.
European Reliance General Insurance Co S.A. presented significant increase of all financial figures for the 9-month period of 2019.
More specifically:
- High profitability levels with Pre-Tax profit presenting 59.5% increase on 30/09/2019 at € 12.5 mil., versus € 7.8 mil. in the corresponding period of 2018.
- Strong increase of Gross Written Premiums and related income by 11.3% at € 151.1 mil., versus € 135.8 mil. in the corresponding period of 2018.
- Significant 6.6% total Assets increase at € 455.9 mil., versus € 427.5 mil. on 31/12/2018, affected by the 12.6% increase of the Investment Portfolio. The investment portfolio reached € 375.8 mil. By the end of September 2019, versus € 333.8 mil. on 31/12/2018.
- 15.6% Total Equity increase at € 134.7 mil., versus € 116.5 mil. in the end of 2018.
- 4.9% Insurance Provisions increase at € 299.8 mil., versus € 285.7 mil. on 31/12/2018.
- The Investment Income amounted to € 9.3 mil. on 30/09/2019, versus € 5.1 mil. in the corresponding period of 2018, presenting 84.3% increase.
- Number of personnel increase with a total of 442 employees, versus 434 by the end of September 2018.
European Reliance continues to increase its market share in the Greek Insurance Market which is currently estimated at 5.1% and presents high liquidity ratio that allows zero bank debt, significant free reserves and direct payment of claims to the customers.
The interested parties may obtain further information in the Company’s website, in the section “Investor Relations”.