National Insurance says premium production up 18 pct in Q1

National Insurance on Thursday said its premium production grew 18 pct in the first quarter of 2017 to 150.6 million euros from 127.6 million in the corresponding period last year.

The Life insurance sector recorded a 36.25 pct increase in premium production to 96.96 million euros, while the Group Life insurance sector a 2.6 pct rise to 18.05 million euros.

The vehicle, fire and other general insurance sectors recorded premium production worth 15.02 million euros, 15.13 million and 5.39 million, respectively in the January-March period. Production by the bancassurance sector totaled 40.64 million euros in the three-month period, up 113 pct from 2016.

National Insurance said its supervised equity capital grew 14.6 pct to 571.6 million euros at the end of 2016, improving the Solvency II rate to 169 pct.

Pre-tax profits totaled 57.7 million euros in the first quarter, while production was 577.7 million.

“Our main goal will always be to offer cutting-edge product and services to families, professionals, businessmen and to actively support the Greek economy and entrepreneurship in the country,” Stavros Konstantas, deputy CEO said, commenting on the results.