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30 November 2012
European Reliance Insurance Company S.A. - Financial figures growth in Q1-Q3 2012
In the January-September 2012 period, European Reliance SA reported growth in all its figure
In the January-September 2012 period, European Reliance SA reported growth in all its figure. In a time of economic recession, which resulted in the continued decline of production in the insurance industry at -11%.
In particular, European Reliance SA reported
- Increased profit before tax by 101,0% to €8,7 mil. Compare to €4,3 mil. in the January-September 2012 period.
- Increased written (gross) premiums and relevant expenses by 16,4% to €120,9 compare to €111,0 in 2011.
- Increased net Worth by 18,6% to €48,1 mil. compare to €41.4 mil. on 31/12/2011.
- Increased assets by 8,2% to €278,1 mil. compared to €257,0 mil on 31/12/2011.
- Increased reserves by €15,2 mil. compared to 31/12/2011.
- Reduction of the receivables by 7,2% due to the company’s credit policy.
The financial robustness and the high level of solvency of Company, will allow to achieve the production targets of 2012 with significant profitablility.
For more information, please visit the company's website at www.europaikipisti.gr, under Investor Relations.