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EUROPEAN RELIANCE GENERAL INSURANCE COMPANY S.A.

(EUPIC)
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European Reliance General Insurance S A : Increase of the financial figures and number of employees in Q1 2021

05/13/2021 | 06:50am EDT

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

More specifically:

  • The gross written premiums and related income presented 0.5% increase and amount to € 52.5 mil., vs. € 52.2 mil. in Q1 2020.
  • The Insurance Profit presented 33.4% increase and amounted to € 7.7 mil., comparing to € 5.8 mil. in Q1 2020.
  • The Total Equity presented 1.0% increase and amount to € 155.6 mil., vs. € 154.0 mil. 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., vs. € 412.5 mil. on 31/12/2020, presenting 0.6% increase.
  • The Mathematical Reserves and Technical Provisions amounted to € 318.4 mil., vs. 312.9 mil., on 31/12/2020, presenting 1.8% increase.
  • The Human Resources of the Company increased by 7 people, with total number of 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, in the Section Investor Relations.

Disclaimer

European Reliance General Insurance Co. SA published this content on 13 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2021 10:49:02 UTC.


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Financials
Sales 2020 223 M 261 M 261 M
Net income 2020 18,5 M 21,7 M 21,7 M
Net cash 2020 16,8 M 19,7 M 19,7 M
P/E ratio 2020 6,98x
Yield 2020 6,05%
Capitalization 134 M 157 M 157 M
EV / Sales 2019 0,57x
EV / Sales 2020 0,50x
Nbr of Employees 1 073
Free-Float 39,0%
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Managers and Directors
Christos I. Georgakopoulos Chief Executive Officer & Executive Director
Stefanos I. Verzovitis Vice Chairman & Chief Financial Officer
Nicolas X. Chalkiopoulos Chairman
Chrysoula Anagnostopoulou Director-Information Technology Department
Katerina Papadopoulou Chief Compliance Officer
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