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European Reliance – Increase of profitability in the nine-month period of 2014

European Reliance General Insurance CO. S.A. demonstrated an increase of profitability as well as an improvement of its financial figures in the nine- month period of 2014 while the total of the insurance market presents a further decrease in capacity.

European Reliance General Insurance CO. S.A. demonstrated an increase of profitability as well as an improvement of its financial figures in the nine- month period of 2014 while the total of the insurance market presents a further decrease in capacity.

More specifically, the company achieved:

  • An increase of profits pre taxes by 23.1% amounting to 8.956 mn Euros as opposed to 7.275 mn Euros in the period January – September 2013.
  • Maintenance of premium income near the 2013 levels, to 122 mn Euros.
  • Increase of net worth by 22.9% amounting to 68.982 mn Euros as opposed to 56.133 mn Euros in 30/09/2013.
  • Increase of assets by 6.5% amounting to 317.267 min Euros as opposed to 297.845 mn Euros in September 2013.
  • Increase of its reserves by 15.933 mn Euros in relation to December 2013, to 232.024 mn Euros.
  • Increase of staff by 8.9 in relation to September 2013, to 388 individuals. 

It is worth noting that the fact that capacity remained at last year’s levels all though the cars’ fleet increased by 14.7% is a result of the decrease in moto sector’s subscribed premiums by 4.2% due to the reduction of prices and the change in the way premiums are paid. On the contrary, the company managed to increase its capacity by 10.2%, while in the Life Insurance and General Insurance sectors, capacity remained at the same levels.

Furthermore, it must be stressed that the company has no bank or other loans and no overdue debts.

For more information, please visit the company's ir website at ir.europaikipisti.gr.
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