Interamerican on Wednesday said its repeated operating earnings totaled 21.1 million euros in 2016, down from 25.8 million in 2015, affected by a change in the methodology used on reserves according to EIOPA guidelines. Pre-tax earnings totaled 5.5 million euros.
Yiannis Kantoros, CEO, speaking during a news conference, said Interamerican’s solvency rate, based on Solvency II, more than covered the level set by the insurance legislation. The company paid a dividend to shareholders of 14.93 million euros in 2016.
Premium production totaled 329 million euros in 2016, from 341 million in 2015 as the company lowered its prices by 10 pct. Interamerican managed to raise its customer base by 35,000 customers last year, an increase of 5.7 pct, to a total of 962,322. Kantoros said the company paid 178.9 million euros in liabilities in 2016.
He said the company’s business plan for 2017 included the digitalization of its services with the aim to become the absolute digital insurer of the Greek market by 202, promoting innovation on operations and products and adopting the “Lean” methodology to improve operations.