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European Reliance – 15,1 mil. € Pre-tax profits for the year 2014

European Reliance General Insurance Company S.A. has accomplished an increase of all the financial figures of 2014
European Reliance General Insurance Company S.A. has accomplished an increase of all the financial figures of 2014, at a time when the production of the Greek insurance industry is estimated to have declined by 1.3%.

More specifically, the Company accomplished:
  • Increase in the pre-tax profits by 12.7% (15.1 mil. €), versus 13.4 mil. € ιn 2013.
  • Increase of the gross written premiums and related revenues by 1.9% to 168.6 mil. €, versus 165.4 mil. € in the previous year.
  • Significant increase in equity by 12.6 mil. € , or  by 21.3%.
  • Increase in the Total Assets by 10% to 329.8 mil. € , versus 299.8 mil. € in 2013.
  • Increase in the insurance reserves of 8.4% to 234.3 mil. €, compared to 216.1 mil. € of the last year.
  • High liquidity, which allows the company to have zero debt and substantial free reserves.
  • Increase of investments in 254 mil. €, versus 204 mil. € in 2013.
Additionally, the Company has further increased its employees by 12.3%, with total employment amounting to 399 against 355 in December 2013.

Finally, it is worth noting that in the five years of the Greek Financial crisis (2009-2014), the company has achieved spectacular growth in gross written premiums and related income by 45%, while the premiums of the overall Greek insurance market were decreased by 28%.

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