2019 Financial Results - Strong growth of all Group’s figures
45.5 % Pre-tax profit increase at € 22.4 mil.
11.3 % Total Income increase at € 225.3 mil.
21.8% Total Equity increase at € 141.2 mil.
2019 was for European Reliance Group of Companies the best year in operational level, with positive increase in all financial figures.
The Management of the Group had the opportunity to present the significant increase in all financial figures in 2019, which led to continuation of its growth course, in a Live Press Teleconference on April 8, 2020.
More specifically, in 2019, European Reliance Group of Companies accomplished:
- 45.5% Pre- tax Profit increase at € 22.4 mil., versus € 15.4 mil. in 2018.
- 11.3% Group’s Total Income increase at € 225.3 mil.
- 11.2% increase of Gross Written Premiums and related income at € 212.4 mil. €, versus 191.0 mil. in 2018, with the Life Sector presenting the highest increase (+28.7%).
- 12.2% Total Assets increase at € 481.7 mil. versus € 429.4 mil. in 2018.
- 21.8% Total Equity increase at € 141.2 mil. versus € 115.9 mil. as of 12/31/2018.
- Strengthening of the Solvency Capital Requirement Ratio (SCR) by 7.8 percentage points at 167.6% further increasing the Company’s credibility and ensuring the future of thousands of policyholders.
- 5.9% Insurance provisions increase at € 302.6 mil., versus € 285.7 mil. in the previous fiscal year.
- Investment Portfolio Increase at € 382.1 mil., versus € 333.8 mil. in the end of 2018.
- 9.2% increase of the insurance claims at € 102.2 mil., versus € 93.6 mil. in the previous fiscal year.
Based on the total Gross Written Premiums, the Group owns 5.2% of the market share, a rate which has doubled over the past ten years, and presents high liquidity ratio, a fact that allows zero lending, significantly free reserves and direct payment of the claims to the customers.
In the Press Teleconference, the Management, apart from the 2019 Group’s financial results, announced the decision of the Board of Directors to propose to the Company’s General Meeting of Shareholders on April, 28, 2020, the distribution of dividend equal to of € 0.24 per share. The Management also presented the Group’s objectives and growth prospects for the current year 2020.
Further information on the Group’s figures, the Annual Financial Report and the Solvency and Financial Condition Report are available at the website www.europaikipisti.gr/en/ in the section Investor Relations.