Eurolife: Fairfax Group investment in Eurolife is a long-term investment

Fairfax Group investment in Eurolife is a long-term investment showing confidence in the country and the prospects of the domestic insurance market and of course the company, Alexandros Sarrigeorgiou, chairman and chief executive of Eurolife said.

Speaking to reporters, Sarrigeorgiou presented the group’s strategy which focused on:

– further organic growth through expanding contact points with customers, adopting alternative networks and designing and developing competitive new products,

– a digital transformation of the group, an integrated program called Eurolife 2.0 Transformation to the point, which is expected to be completed in 18 months,

– seeking non-organic growth both domestic and abroad,

– further establishing an autonomous course in the market.

– investing on human resources, currently of more than 340, through continuing training and

– creating the maximum product mix to support the group’s growth and to meet the needs of Greek citizens.

Eurolife ERB Group is one of the largest insurance groups in the country. Premium production rose 11.5 pct to 211.18 million euros in the first half of 2016, while pre-tax earnings rose 8.4 pct to 36.37 million euros. The Group has gained significant share in the Romanian insurance market through its subsidiaries Eurolife ERB Asigurari de Viata SA and Eurolife ERB Asigurari Generale S.A. with premium production growth of 123.4 pct to 6.42 million euros. The Group has a customer base of more than 573,000 customers in Greece and Romania.