Ethniki Insurance has reached an agreement with the Syngelidis Group for the acquisition of a majority stake (55%) in the brokerage companies Elysee Insurance Agent s Coordinator S.A. and Elysee Insurance Brokers S.A., which operate in all insurance sectors in Greece, insuranceforum.gr reports.

It is noted that this is a strategic investment that complements Ethniki Insurance's existing partner networks and adds dynamics and synergies to its overall distribution model.

The partnership sets new standards in the Greek insurance market, combining the Syngelidis Group's leading position in the automotive market, where it holds a strong presence in new and used vehicle sales, after-sales and mobility services, with the insurance know-how and innovations of Ethniki Insurance. At the same time, the long-standing experience, customer-centric philosophy and constant desire for development that characterize the Elysee companies are fully aligned with the values ​​and strategy of Ethniki Insurance.

“As part of our strategic transformation, we are investing in partnerships with leading market participants. Our participation in the Elysee companies, in collaboration with the leading Syngelidis Group, provides us with direct access to a specific and highly dynamic customer base and strengthens our position in the automotive sector, while allowing us, through modern Customer Value Management practices and data analysis, to create targeted high-value solutions in other sectors (e.g. property, health, protection). In this way, we expand our distribution channels, create new growth opportunities and diversify our revenue sources, offering even greater value to our customers”, said Mr. Dimitris Mazarakis, the CEO of Ethniki Insurance.

“Our Group, with 55 years of continuous presence and growth, is today one of the strongest and most established groups in the automotive sector in Greece. At the same time, through Elysee, we have been active in the insurance sector for almost 30 years, offering a personalized and top-notch insurance experience to our customers. Our strategic partnership with Ethniki Insurance, the leading company in the insurance sector, aims to offer innovative and competitive insurance solutions, fully oriented to the needs of our customers. Through this partnership, with Ethniki Insurance, we seek to further strengthen the relationship of trust that we have built with our customers by continuing to create and redefine new standards of quality, experience and value in the Greek automotive market”, commented Mr. Polychronis Syggelidis, CEO of Syggelidis Group.