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European Reliance - Increase of profitability in the first semester of 2016

European Reliance General Insurance CO. S.A. demonstrated an increase of its profitability as well as an improvement of its financial figures in the first semester of 2016.
European Reliance General Insurance CO. S.A. demonstrated an increase of its profitability as well as an improvement of its financial figures in the first semester of 2016.

More specifically, the company achieved:
  • An increase of pre-tax profits by 19,1% amounting to 5,673 mil. € vs 4,763mil. € in the period January – June 2015.
  • Slight decrease in gross premiums and related income by 1,2%, to 81,426 mil. € compared to the same period of 2015, at a time when the written premiums of the Greek insurance industry estimated to have declined by 5%.
  • Total Equity amounted to 86,043 mil. €. This amount is increased by18,1%, compared to the same period of2015.
  • Increase in the Total Assets by 9,5% amounting to 370,138 mil. €, vs 337,998 mil. € in June of 2015.
  • Increase in the insurance reserves by 6,1% compared to 30/06/2015, amounting to 263,893 mil. €.

The Growth of European Reliance is a result of the company΄s principles, the philosophy of being close to every customer particularly at the time of compensation, the ability to be able to adapt to the vast changing environment, the development of strong business partnerships and the excellent consistency.

It is worth noting that European Reliance, has all required infrastructures of Solvency II implementation, exceeding the required capital criteria of the directive. Additionally, the company has high liquidity, which allows to have zero debt and substantial free reserves.

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