The management of the European Reliance Group on 7 April announced a significant increase in all economic indicators for 2020 at a live press conference via its electronic platform. Specifically, in 2020, European Reliance posted:
- An increase of 10.6% in earnings before taxes, amounting to €24.8 million, up from €22.4 million in 2019.
- A 5.1% increase in total revenue for the Group, to €236.8 million.
- An increase of 5.1% in written premiums and related revenues, amounting to €223.3 million, from €212.4 million in 2019, with the life division noting the greatest increase (13.5%). It is noteworthy that all three insurance divisions continued their upward course in 2020.
- A 5.6% increase in assets to €511.9 million, compared to €484.6 million for FY 2019.
- Equity was significantly strengthened by 8.7% to €153.6 million, compared to €141.2 million at 31/12/2019.
- The solvency ratio (SCR) was further bolstered by 10.6 percentage points to 174.6%, solidifying the company’s reliability even more and safeguarding the rights of its hundreds of thousands of subscribers.
- An increase in its investment portfolio to €412.5 million, compared to €382.1 million at the end of 2019.
- An increase in its insurance provisions by 3.4% to €312.9 million compared to €302.6 million for the previous financial year.
Based on total premiums, the Group is estimated to have a 5.7% share of the insurance market, which has doubled over the last 10 years. It also presents high liquidity, which allows it to maintain zero borrowing, enjoy significant unencumbered reserves and pay its obligations to policyholders and third-party beneficiaries promptly.
