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24 April 2019
Increase in fiscal figures for 2018
Increase in fiscal figures.
€15.4 mil. pre-tax profit.
Equity increase at € 115.9 mil.
Group’s Total Income at € 202.4 mil.
€15.4 mil. pre-tax profit.
Equity increase at € 115.9 mil.
Group’s Total Income at € 202.4 mil.
Increase in fiscal figures
€15.4 mil. pre-tax profit
Equity increase at € 115.9 mil.
Group’s Total Income at € 202.4 mil.
Group’s Total Income at € 202.4 mil.
European Reliance Group of Companies announced the significant increase in all 2018 fiscal figures in a Press Conference held on April 24, 2019.
The Management of the Group had the opportunity to present in detail the significant increase of the fiscal figures and the ongoing growth of the Group.
More specifically, in 2018, European Reliance Group of Companies accomplished:
- High profitability levels with pre-tax profit at € 15.4 mil.
- 3.8% Increase of Group’s total income at € 202.4 mil.
- 4.1% increase of gross written premiums and related income at € 191.0 mil., versus € 183.5 mil. in 2017, when the Greek Insurance Market presented 1.8% increase.
- 2.9% Assets increase at € 429.4 mil. versus € 417.5 mil. in 2017.
- 0.4% Equity increase at € 115.9 mil., versus € 115.4 mil. on 31/12/2017, despite the overall negative course of the Global Markets.
- The Company’s Solvency Ratio (SCR) strengthened by 14.1 percentage points at 159.81%, further increasing the Company’s credibility and ensuring the future of thousands of insured.
- 4.6% Insurance provisions increase at € 285.7 mil., versus € 273.1 mil. in 2017.
- Investment portfolio increase at € 333.7 mil., versus € 325.7 mil. in the end of 2017.
- Personnel Increase with total 1,175 employees, versus 1,121 on 31/12/2017.
The Group holds 4.9% of the market share based on total written premiums, a rate that has doubled over the last decade, and presents high liquidity ratio that allows zero bank lending, significant paid-up reserves and direct payment of the customers’ claims.
In the Press Conference, the Management, except for the 2018 financial results of the Group, announced the decision of the Board of Directors to propose to the General Meeting of Shareholders of European Reliance General Insurance Co. S.A. on May 21, 2019, distribution of dividend of € 0.13 per share. The Management also presented the Group’s objectives and growth prospects for 2019.
The interested parties may find further information in the Company’s website www.europaikipisti.gr/en/Home, in the section Investor Relations.