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European Reliance – Increase of all financial figures for the seventh year in a row

Continuing the growth path of the last years, European Reliance improved its finances figures of 2015
Continuing the growth path of the last years, European Reliance improved its finances figures of 2015, at a time when the written premiums of the Greek insurance industry is estimated to have declined by 5,8%.

More specifically, the Company accomplished:
  • Increase in the pre-tax profits by 6,6% (16,1 mil €), vs 15,1 mil € in 2014.
  • Increase of the gross written premiums by 3,8% to 172,7 mil €, vs 166,3 mil € in the previous year.
  • Configuration of net worth, to 81,1 mil. €. This amount is increased by 13,3% or 9,5 mil. €, compare to the same period of 2014.
  • Increase in the Total Assets by 7,6% to 355,0 mil. €, versus 329,8 mil. € in 2014.
  • Increase in the insurance reserves of 7,0% to 250,8 mil. €, compared to 234,3 mil. € of the last year.
  • Increase of investments in 271,1 mil €, versus 253,1 mil € in 2014.
  • Increase of its number of employees by 1,5%, with total employment amounting to 405, against 399 in December 2014.

It is worth noting that from 2009 to 2015, European Reliance has achieved spectacular growth in gross written premiums by 50% and to double its market share. Additionally, the company has high liquidity, which allows it to have zero debt and substantial free reserves.

The listed on the ASE, Insurance Company has all required infrastructures of Solvency II implementation, exceeding the required capital criteria of the directive.

For the fiscal 2015, the Board of Directors proposes the distribution of a dividend €0,06 per share.

Interested parties can derive more information on the company΄s site, in the section Investor Relations.
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