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European Reliance - Ordinary General Meeting Decisions

The Annual Financial Statements for the Year 2015 on a simple and consolidated basis, as well as a dividend of EUR 0.06 per share, were approved among others by the Ordinary General Meeting of the European Reliance General Insurance Co. S.A.
The Annual Financial Statements for the Year 2015 on a simple and consolidated basis, as well as a dividend of EUR 0.06 per share, were approved among others by the Ordinary General Meeting of the European Reliance General Insurance Co. S.A., which took place on Tuesday, June 14th 2016, with the participation of the new strategic partners, EBRD - Orasis Fund- Serengetti A.M., that recently acquired the majority of the share previously held by Piraeus Bank.

During the General Meeting, the shareholders were presented with the activities of the Year 2015 as well as with the objectives and the growth prospects of the Company. Special reference was made to a spectacular 50% increase in the production rates of the company from 2009 to date, as well as in all of its other financial figures for the seventh year in a row, including the doubling of the market share.

Indicatively, in 2015, the Company achieved:
  • Increase in pre-tax profits by 6.6% to EUR 16.1 million.
  • Increase of the gross written premiums by 3.8% to EUR 172.7 million.
  • Configuration of net worth to EUR 81.1 million, increased by 13.3%.
  • Increase in the Total Asset by 7.6% to EUR 355.0 million.

The Ordinary General Meeting also approved the exemption of the Directors and the Auditors from any liability for the Year 2015, the election of new Auditors for the Year 2016, the withdrawal of the decision of the Extraordinary General Meeting of Shareholders on 17/11/2015 on the amendment of Article 5 of the Company΄s articles, and the replacement of Members of the Board of Directors.

Interested parties can obtain further information at Investor Relations section.
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