Atlantic Union closed FY 2021 with €3.060 million in earnings, continuing its profitable tradition of the last 33 years.
At the Ordinary General Meeting of Shareholders on 9 June, Chairman and CEO Giannis Lapatas presented the results for the 2021 financial year, which closed with earnings of €3.060 million and own funds amounting to €84.555 million.
Total technical reserves over premium income came to €86.541 million, compared to €85.087 million in 2020, while financial investments in 2021 totalled €156.908 million.
Coverage of the solvency margin on 31/12/2021, in accordance with Solvency II standards, came to 280.2%, or about 2.8 times the required regulatory capital. This achievement is even more important, given that Atlantic Union did not use any transitional measures.
Baloise representative and Basler CEO Jürg Schiltknecht congratulated Atlantic Union management and staff, noting: “We are very pleased at the Baloise Group with the impressive results achieved by Atlantic Union for yet another year. We are also very happy that Atlantic Union is so strongly capitalised, in view of other imminent changes in the Solvency II Regulation.”
