European Reliance S.A. released its financial results for the first nine months of 2021, indicating high turnover activity in all of the company’s key sectors.
Specifically:
Written (gross) premiums and related income for the company were up 4.0%, amounting to €165.1m, compared to €158.8m at 30/9/2020. Contributing to the increase was the life sector by 7.9%, the motor sector by 0.6% and other general sectors by 5.5%.
* The company’s earnings before tax remained at high levels and came to €14.0m, significantly improving the results for the first half of the year by 133% and giving rise to well-founded expectations for much better results at 31/12/2021.
* The company’s investment portfolio, placed in securities with a high credit rating, came to €426.7m, compared to €412.5m at 31/12/2020, for an increase of 3.4%.
* Mathematical reserves and technical provisions came to €335.6m, compared to €312.9 million at 31/12/2020, for an increase of 7.3%.
* These figures led to an excellent result of 13.5% for return on equity (ROE).
The company also reports that for the period January-September 2021, it conducted 36 corporate social responsibility actions, and was recently included in the Athens Exchange’s new ‘green’ ESG index.
