However, Kathimerini understands that the market is already being scanned for investor interest, with the number of interested candidates in the international insurance and investment sectors said to exceed 10. They are reported to include German insurer Allianz, Chinese financial group Fosun, the Apollo investment fund, as well as Canadian group Fairfax, which is the main shareholder at Eurolife ERB following the latter's sale by the Eurobank group.
The valuation of Ethniki Insurance has been completed and is estimated at between 800 million euros and 1 billion euros, according to data from the first quarter of this year, but that does not constitute a starting price for the bidding process.
Ethniki is particularly attractive for investors as it accounts for 18 percent of the Greek market and premiums of over 440 million euros. Read the full story GREECE: Bids for NBG's Ethniki Insurance set for Q1