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25 April 2018
European Reliance - Strong growth in all group΄s 2017 financial figures
On April 25, the Management of European Reliance Group of Companies presented the significant growth in all its financial figures for 2017 in a Press Conference held for media and shareholders.
On April 25, the Management of European Reliance Group of Companies presented the significant growth in all its financial figures for 2017 in a Press Conference held for media and shareholders.
The Group΄s Management had the opportunity to analytically present the significant progress of its financial figures, that led to the continuation of the development progress.
More specifically, in 2017, European Reliance Group presented:
- 8.4 % Pretax Profit increase at € 22.8 mil. vs. € 21.0 mil. in 2016.
- 6.6 % Gross Written Premiums and Income Increase at € 183.6 mil., in a time when the Greek Insurance Market presented 0.05 % marginal growth in written premiums.
- 21.4 % or € 20.1 mil Total Equity Increase at € 115.4 mil. vs. € 95.3 mil. of December 31, 2016.
- 7.7 % Total Assets Increase at € 417,5 mil. vs. € 387.7 mil. in 2016.
- 2.4 % Increase in Insurance Provisions at € 273.1 mil. vs. € 266.7 mil. in the previous fiscal year.
- 23.8 mil. Investment Portfolio Increase at € 327.6 mil. vs. December 31, 2016.
- 8.3 % Human Resources Increase with the total working positions reaching 1.121.
At the same time, our Group presents high liquidity ratio, that allows 0% financing and important free reserves.
In the Press Conference, the Management, apart from the 2017 Group results, informed the Press about the decision of the Board of Directors to propose to the General Shareholders meeting of European Reliance General Insurance Co. S.A. on May 22, 2018, the distribution of dividends for third consecutive year in € 0.12 per share. Moreover, the Management presented the Company΄s goals and growth prospects for 2018.
Our 2017 Annual Financial Report will be available in due course under Investor Relations Section in our Website https://www.europaikipisti.gr/en/Home.