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25 September 2019
European Reliance-H1 2019: Increase of all financial figures of the Group
H1 2019: Increase of all financial figures of the Group
Significant 96.3% increase of pre-tax profit by European Reliance Group of Companies in the first semester of 2019.
More specifically:
- The consolidated pre-tax profit reached € 16.1 mil. versus € 8.2 mil. in the corresponding period of the previous year. The pre-tax profit of the Parent Company recorded 102.6% increase at € 15.8 mil., versus € 7.8 mil. in the corresponding period of 2018.
- The Insurance Result amounted to € 26.6 mil., versus € 16.8 mil. of the corresponding period of 2018, presenting 58.3% increase.
- The insurance result in the Motor Sector presented 91.5% increase at € 9.0 mil., versus € 4.7 mil. in the corresponding period of 2018, positively affected by the increase of the net earned premiums and decrease of claims.
- The insurance result in the Life Insurance Sector presented 82.0% increase at € 11.1 mil., versus € 6.1 mil. in the corresponding period of the previous year, mainly due to the increase of the gross written premiums and net investment revenues.
- The insurance result of the Other Non-Life Sectors presented 10.2% increase at € 6.5 mil., versus € 5.9 mil. in corresponding period of the previous year, mainly due to the decrease of the paid claims.
- The total revenues of the Group presented 10.1% increase at € 108.2 mil., versus € 98.3 mil. in the corresponding period of 2018, influenced by the development of the Group’s insurance performance.
- The gross written premiums presented 10.2% increase at € 102.2 mil., versus € 92.7 mil. in H1 2018.
- The total Assets presented 5.2% increase at € 451.9 mil., versus € 429.4 mil. on 31/12/2018, due to the 6.6% increase of the Investment Portfolio. The investment portfolio reached € 355.9 mil. in June 2019, versus € 333.8 mil. on 31/12/2018.
The total Equity recorded 14.5% increase, at € 132.7 mil. in the end of H1 2019, versus € 115.9 mil. in the end of 2018, a fact that had a positive impact to the additional improvement of the Solvency Capital Requirements Ratio.
The Mathematical Reserves and Technical Provisions amounted to € 291.4 mil., presenting 2.0% increase, versus € 285.7 mil. on 31/12/2018.
According to the published gross written premiums of H1 2019, the Company is estimated to have increased its market share at 5.1%, versus 4.9% on 31/12/2018.
Moreover, the personnel of the Parent Company (total of 456) increased by 12 persons comparing to 31/12/2018.
It is worth noting that European Reliance Group of Companies performed 26 Corporate Social Responsibility actions in H1 2019, which were totally in compliance with the 17 Sustainability Goals and the UN Global Compact.
The interested parties may find further information on the Company’s website www.europaikipisti.gr/en/Home, in the section Investor Relations.