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31 August 2015
Strengthening of financial figures for the EUROPEAN RELIANCE S.A., in the first semester of 2015
European Reliance improved its finances in the first semester of 2015, continuing the growth path of the last years, despite the general adverse conditions that prevail in local economy.
More specifically, the company achieved:
- Significant increase of the gross written premiums and related income by 7,1% to €86,6 mm, compare to €80,9 mm the same period of 2014..
- Configuration of net worth, to €72,8 mm. This amount is increased by 11,2% or €7,3 mm compared to the same period of 2014.
- Stable pre-taxes profits to €4,8 mm.
- Increase in the Total Assets by 7,9% to €338,0 mm compare to €313,2 mm in June 2014.
- Reserve strengthening by 8,2%, to €247,5 mm, compared to June 2014. 66% of this amount is invested in high credit rating bonds (A+). The rest is distributed in cash equivalents (15%), real estate (13%) and shares (6%).
- Available cash flow 14,8 mm. which in combination with the zero bank loans and the lack of overdue debts, allows the company to be consistent in payment of any kind of obligations.
- Further increase of its employees by 13,5% compared to the same period of 2014, with total employment amounting to 430, against 379 in June 2014 and 399 in December 2014.
Furthermore, the Company has completed its preparations for the implementation of the Solvency II Directive on the 01/01/2016, covering already the quantitative and qualitative requirements of the Directive.
For more information, please visit the company΄s ir website at ir.europaikipisti.gr.