03 Ιούλ Ethniki Insurance, a national gem
Ethniki Insurance is the leading Insurance Organization in Greece with a history of more than 127 years. Since 1891, the Company has gained a leading position in, both, the Greek insurance market and society. In 1917, it was Ethniki Insurance that offered a major social relief by covering the damage caused by the great fire of Thessaloniki and contributing to the reconstruction of the city.
Today the company still pays €1 million in claims on a daily basis, whereas it continues its sustainable growth with remarkable economic results and increasing market share. With a total market share of 15.47% – of which 21% in Life and 9,84% in General Insurance respectively -, Ethniki strengthens its position and key role in the private insurance sector. The company leads the insurance industry through the development of innovative products and services that meet its customers’ needs at any stage of their lives.
During the long lasting crisis, Ethniki Insurance sustained its leading position, by demonstrating its strong commitment to its customers and society – through its Corporate Social Responsibility (CSR) actions program -, while at the same time the company maintained its profitability and business growth.
The contractual obligations of its main shareholder, the National Bank of Greece, to divest its non-core operations, led to the strategic decision to find a new shareholder for the 75% of its shares. The sale procedure that followed, although time consuming, did not affect the operational stability of Ethniki Insurance. The company stood up to the challenges, and continued its dynamic development in the insurance market, despite the daily publicity and rumors diffusion due to the delay of the process.
The gradually promising economic environment in Greece, finds Ethniki Insurance stronger in terms of production, profitability, capital adequacy and ready to continue its leading role. Driven by its commitment to people and their welfare, Ethniki Insurance will continue its successful course in the coming years, determining the market’s development and growth.
The end of the crisis, will find Ethniki Insurance ready to meet the new challenges. After all, the financial strength, the continuous goal setting and business development and the training and support of the important human factor, are the main components on which the company builds its success in the Greek insurance market and the Greek economy as a whole.
Stavros Konstantas, Deputy CEO, Ethniki Insurance