Greece
GREECE: Exin seeks extension of Ethniki funding deadline
Exin Group has asked the Bank of Greece to extend the deadline for providing details on the way it will fund its proposed EUR718mn (USD 895mn) acquisition of a majority stake in state-owned Ethniki Insurance.
7 February 2018GREECE: Acquisition of Ethniki Insurance poised to collapse
The acquisition of National Bank's insurance business by Calamos and Exin seems poised to collapse after Calamos Family Partners (CFP) announced that it had filed legal action against EXIN Financial Services Holdings, the Dutch holding company of the EXIN Group.
7 February 2018GREECE: Ethniki Insurance deal to be funded by giants?
Exin Financial Group has pledged that by end-January it will have submitted the details of the funding needed to acquire Ethniki Insurance. So far the group is said to have informed the monitoring authorities and National Bank of Greece that Pimco and Berkshire Hathaway will participate in the deal's financing.
18 January 2018STATISTICS: Greece, 3Q2017: The insurance industry remained at the 2016 level
The Greek insurers reported gross written premiums of EUR 2.80 billion at the end of September 2017, up by 0.26% y-o-y, according to the nine-months market report published by the Hellenic Association of Insurance Companies (HAIC).
7 December 2017GREECE: Ethniki Insurance deal is proceeding
National Bank of Greece and the Exin Group proceeded on Thursday with work toward submitting to the Bank of Greece a draft set of documents for the acquisition of NBG subsidiary Ethniki Insurance by Exin Financial Services Holding, paving the way for the implementation of the deal signed in June.
12 October 2017GREECE: CEO of Calamos Investments said that acquiring Ethniki Insurance "made business sense, but also I was proud to try to help the country in some way"
John Koudounis, CEO of Calamos Investments and the mastermind behind the
acquisition of Greece's biggest insurance company by the EXIN Fund,
says that Greece makes investment sense because it's economy is slowly
turning around.
28 September 2017STATISTICS: GREECE, 1H2017: Over 65% y-o-y growth on the life U-L line GWP
The Greek insurers members of HAIC - Hellenic Association of Insurance Companies, reported a GWP of EUR 1.9 billion in 1H2017, or 1.2% more y-o-y, according to the half year report published on HAIC's website.
14 September 2017GREECE: Eurolife ERB chooses FRISS solution to prevent insurance fraud
Eurolife ERB has selected the FRISS solution to confront insurance fraud more effectively. Eurolife ERB will be using FRISS to assess risks at underwriting and to detect fraud during the claims process, has announced FRISS.
12 July 2017GREECE's National Bank to Sell Romania, Serbia, Cyprus Operations
Greece's second-largest lender National Bank (NBG) will sell more assets
in the Balkans, including its Romanian operations, to complete a
restructuring plan agreed with European authorities, its chief executive
said on Tuesday.
5 July 2017ETHNIKI Insurance close to becoming an American-Dutch owned company
ETHNIKI Insurance's sale entered its final stage once the National Bank of Greece's board approved the sale of a majority stake in it to American-Dutch consortium Calamos-EXIN, a banker close to the deal told Reuters.
29 June 2017GREECE: INTERAMERICAN chooses SAS to expand personal data protection
In the insurance industry, trust is crucial to maintaining loyal customers. And with just under a year before the EU General Data Protection Regulation (GDPR) goes into effect, there is a spotlight on personal data and security. To help provide that customer data is securely managed, INTERAMERICAN, a leading insurance provider in Greece, has expanded its relationship with SAS.
29 June 2017GREECE: Calamos-Exin to land Ethniki Insurance
The Greek-American consortium Calamos-Exin Group has been selected as the preferred bidder for the sale of Ethniki Insurance, a National Bank of Greek subsidiary, in the context of the tender that according to sources is nearing its conclusion.
15 June 2017GREECE: Greek American EXIN Partners Acquire Emblematic Greek Insurer Ethniki Asfalistiki
EXIN Partners, a group consisting by John Calamos and John Koudounis of Calamos Investments, insurance expert Matthew Fairfield, and Pavlos Kanellopoulos together with Nicholaos Adamantiades of AIG have won the bid to acquire "Ethniki Asfalistiki," Greece's biggest insurer.
8 June 2017STATISTICS: GREECE, 1Q2017: The growth rate of life insurance maintained the market in the positive area
At the end of March 2017, the Greek insurance market totaled EUR 962 million, up by 1.4% y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC).
8 June 2017GREECE: All insurance companies pass their solvency test
Greek insurance companies have passed (with minor notes) the first
European solvency test based on the new capital regulations known as
Solvency II.
30 May 2017Wilbur Ross backs American-Dutch bid for Ethniki Insurance
The US commerce secretary has backed a bid by an American-Dutch consortium to buy the insurance arm of Greece's National Bank, Ethniki Insurance, saying a deal could help US investment flows to the troubled Mediterranean country.
18 May 2017U.S. commerce secretary backs Calamos-EXIN bid for GREEK insurer
The U.S. Commerce Secretary has backed a bid by an American-Dutch
consortium to buy the insurance arm of Greece's National Bank, saying a
deal could help U.S. investment flows to the troubled Mediterranean
country.
18 May 2017GREECE: Calamos-Exin predicts National Insurance bid hard to match
An offer for National Bank's insurance business by Calamos and Exin will
be hard to match, partly because of the cultural and commercial links
they have with Greece, the investment duo's chief executives said.
3 May 2017GREECE's National Bank gets four bids for insurance unit
Four investors submitted binding bids to acquire a majority stake in Greek lender National Bank's (NBG) insurance unit, a banking source close to the deal told Reuters on Tuesday.
10 April 2017ETHNIKI Insurance sale: four investors are bidding for the majority stake
Four investors submitted binding bids to acquire a majority stake in Greek lender National Bank's (NBG) insurance unit, ETHNIKI Insurance, reports Reuters quoting a banking source close to the deal.
5 April 2017
