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Milestones

1977

The Company was established by a team of 19 life insurance brokers.

1983

Construction of a 3,500 square metre building on Kifisias Avenue.

1986

The ALTER EGO S.A. subsidiary was established as an insurance support and life quality centre, a sector that EUROPEAN RELIANCE GEN. INS. CO. SA. first established in the Insurance sector.

1990

EUROPEAN RELIANCE GENERAL INSURANCE CO. S.A. Mutual Funds Company is established, one of the first Mutual Funds companies in Greece.

1995

Construction of a 6,500 square metre building, next to the initial building on Kifisias Avenue which, apart from being a point of reference for the company, also became an important source of income.

1997

The company is offered publicly on the Athens Stock Exchange. EUROPEAN RELIANCE GENERAL INSURANCE CO. S.A. becomes the first insurance company in 34 years to do so.

2002

The company is certified with ISO 9001:2000 for all its services. EUROPEAN RELIANCE GENERAL INSURANCE CO. S.A. is the first company to receive this accreditation and continues to do so today with the ISO 9001: 2008.

2005

From 1/1/2005, EUROPEAN RELIANCE GENERAL INSURANCE CO. S.A., as a company listed on the Athens Stock Exchange, applies the IFRS. EUROPEAN RELIANCE GENERAL INSURANCE CO. S.A. was the only amongst the listed insurance companies in Greece to improve its net worth, following the application of the International Reporting Standards as cited by Ernst and Young.

2007

Agreement between European Reliance and Piraeus Bank, whereby Piraeus Bank acquired 30% of European Reliance’s share capital, through a capital increase and waiver of rights of existing shareholders.

2011

Successful participation in the Europe-wide stress test of insurance companies, by fulfilling all assessment criteria.

2012

Tripling of profits to € 12 mn. instead of € 4 mn. in 2011, at a time of recession for the third consecutive year in the Insurance Industry.

2015

Profitability increase at € 16,1 mil.

2016

The company enters the new “Solvency II” framework. The European Bank for Reconstruction and Development (EBRD) acquires 15% of the share capital of European Reliance General Insurance Co. S.A., and the total investment portfolio amounts over € 300 mil.

2017

Important increase of all financial figures for 8th consecutive year. For the first time our Total Assets exceed € 400 mil.

2018

Ongoing growth with the Group's total income exceeding € 200 mil. for the first time. The Solvency Ratio reached 159.81 %, versus 145.73% in 2018.