European Reliance posted high pre-tax earnings of €3.5 million in the 1st quarter of 2021, compared to €1.6 million for the same quarter of 2020.
Specifically:
- Gross written premiums and related income showed an increase of 0.5% and amounted to €52.5 million, from €52.2 million for the same quarter in 2020.
- Insurance earnings noted an increase of 33.4% and came to €7.7 million, while in the 1st quarter of 2020, they were €5.8 million.
- Equity was up by 1.0%, amounting to €155.6 million, compared to €154.0 million in 2020.
- The Solvency Capital Requirement (SCR) ratio was strengthened by 4.2 percentage points and amounts to 178.81%, compared to 174.61% at 31/12/2020.
- The investment portfolio totalled €414.9 million, compared to €412.5 million at 31/12/2020, for an increase of 0.6%.
- Mathematical reserves and technical provisions came to €318.4 million, compared to €312.9 million at 31/12/2020, for an increase of 1.8%.
- The company’s workforce was increased by 7 people, with total jobs coming to 446, from 439 at 31/12/2020.
According to data for the period January-April 2021, premium turnover was trending upwards, noting a 2.1% increase relative to the 1st quarter of 2020, while operating costs were slightly decreased compared to the same period in the previous year.
More information is available in the Investor Relations section of the company’s website, www.europaikipisti.gr.
