High growth and profitability rates for EFG Eurolife Insurance | Eurobank
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High growth and profitability rates for EFG Eurolife Insurance

 

The steady growth of the EFG Eurolife Insurance that belongs to the Eurobank EFG Group, continued in 2006, a year marked by significant increase both in premium production and profitability in all areas of its activity.

EFG Eurolife Insurance, one of the largest insurance groups in Greece with high economic robustness indicators, operates through insurance companies EFG Eurolife Life Insurance SA, EFG Eurolife General Insurance SA και EFG Insurance Services in the life, pensions, property, health insurance and insurance advisory services sectors.

In 2006 in particular, ΕFG Eurolife Life Insurance SA, posted a premium production increase of 17% in comparison with 2005, to €426 million. Funds under management on 31.12.2006 totaled €1,034 million, a 54% rise from 2005. 

The company’s profit before tax , according to International Accounting Standards rose by 37% compared with 2005 to €41.4 million.  The company maintains a high rate of reserves and has high embedded value according to European Embedded Value Standards.

The General Insurance company, EFG Eurolife General Insurance SA in 2006 posted a premium production increase of 19% versus 2005 to €24 million.
Profit before tax (according to the IAS) increased by 22% to €10.2 million compared with 2005.
The company’s investment portfolio shows a high reserves rate.

EFG Insurance Services is one of the leading insurance brokers in the Greek market, with profit before tax at approximately €750,000 in 2006.