European Reliance General Insurance Co. SA

05/13/2021 | Press release | Distributed by Public on 05/14/2021 08:59

ANNOUNCEMENT ON THE FINANCIAL RESULTS OF Q1 2021

Chalandri, May 13, 2021 - European Reliance presented high pre-tax profitability at 3.5 mil. euros in Q1 2021, comparing to 1.6 mil. euros in Q1 2020.

More specifically:

  • The gross written premiums and related income presented 0.5% increase and amount to 52.5 mil. euros, vs. 52.2 mil. euros in Q1 2020.
  • The Insurance Profit presented 33.4% increase and amounted to 7.7 mil. euros, comparing to 5.8 mil. euros in Q1 2020.
  • The Total Equity presented 1.0% increase and amount to 155.6 mil. euros, vs. 154.0 mil. euros in 2020.
  • The Solvency Capital Requirement strengthened by 4.2 percentage points and amounted to 178.81%, vs. 174.61% on 31/12/2020.
  • The Investment Portfolio amounted to 414.9 mil. euros, vs. 412.5 mil. euros on 31/12/2020, presenting 0.6% increase.
  • The Mathematical Reserves and Technical Provisions amounted to 318.4 mil. euros, vs. 312.9 mil. euros, on 31/12/2020, presenting 1.8% increase.
  • The Human Resources of the Company increased by 7 people, with total working positions at 446 employees, vs. 439 employees on 31/12/2020.

It is worth noting, that according to the figures of January - April 2021, the Gross Written Premiums presented 2.1% increase, comparing to the respective four months period of 2020 and the operating expenses present slight decrease comparing to the aforementioned period of 2020.

The interested parties may read further information on https://ir.europaikipisti.gr/en/oikonomika-apotelesmata?year=2021&type=all-filters-value.