Ethnikis Asfalistikis also showed strong profitability in the third quarter of 2021, following the positive results of the first half of 2021. More specifically, the pre-tax profits of Ethnikis Asfalistikis for the 9 months of 2021 amounted to € 83.9 million against € 53.7 million in the corresponding period of 2020. Net profit, after taxes, amounted to € 63.1 million, compared to € 42.6 million in the first 9 months of 2020.
The total production of insurance premiums for the 9 months of 2021 increased by 7% compared to the 9 months of 2020, with the total registered premiums amounting to € 532.1 million. € 403.4 million, compared to € 363.5 million in the first 9 months of 2020, increased by 11%, mainly due to the production of the new one-time payment product Unit-Linked “Full Capital Plan”. to € 128.7 million in the 9 months of 2021, compared to € 133.6 million in the 9 months of 2020, showing a decrease of 3.7%, mainly due to the settlement of past receivables.
As mentioned in the relevant announcement, the ability of the company’s sales networks to cope and grow in unprecedented adverse conditions, is confirmed by the above performance, which is the result of their dynamic and systematic effort. Specifically, both the Corporate Production Network and the network of Agents / Brokers, as well as the branch network of the National Bank (Bancassurance) presented increased production. The production of Bancassurance amounted to € 146.9 million in the 9 months of 2021, increased by 17% compared to the corresponding period of 2020, mainly due to the new one-time payment product Unit-Linked “Full Capital Plan”.
The total Equity of the company on 30.09.2021 amounted to € 1,239.1 million (31.12.2020: € 1,223.7 million), showing a small increase compared to the previous year. The increase is due to the profitability of the 9 months of 2021, which was partially offset by the valuation losses in the investment portfolio of the Company bonds, due to the upward change of the risk-free interest rate curve during the 9 months of 2021.
The company, proving its loyal commitment to its goal of protecting its policyholders, gave immediate priority to the payment of insurance compensation for damages related to the catastrophic fires of August and carried out relief operations for residents and businesses in the affected areas. and operation of a special communication line for their 24-hour service. The total impact according to the losses announced so far, is estimated at € 4.1 million.
Finally, in the context of the third business awards “Thales o Milesios – 200 years of Greece”, Ethniki Asfalistiki received an honorary distinction between companies founded in the 19th century and are considered pioneers in their field.
.
Source From: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
