Greece
Chinese groups renew interest in Greek insurance sale
Two Chinese groups have renewed their interest in buying a majority
stake in National Insurance, Greece's largest insurer, after a EUR 718m
sale agreed with Calamos-Exin, a US-Dutch partnership, collapsed last
month. Fosun Investment and Gonbao Investment, the second- and
third-ranked bidders, "have returned to the reopened sale process" said
one source close to the situation.
26 April 2018Uber Suspended in Greece by New Legislation
One more fight has been won by cab companies, this time in Greece, where a new piece of legislation that might push car-sharing service Uber out of existence in the country has been adopted.
11 April 2018GREECE's NBG says deal to sell insurance arm to EXIN terminated
Greece's National Bank (NBG) said on Thursday that a potential deal to sell a 75 percent stake of its wholly-owned insurance subsidiary to EXIN Financial Services Holding had expired a day earlier.
3 April 2018Fairfield: We are still in the race for Ethniki
Exin is "close" to being in a position to make a fully financed bid for Greek state-owned insurer Ethniki and still has a superior value proposition to the Chinese bidders lining up to challenge it, the group's CEO Matt Fairfield has told The Insurance Insider.
3 April 2018Ethniki bid process re-opened after Exin falls short
Exin has lost exclusivity in the race to buy Greek state-owned insurer Ethniki and will now have to fight off competition from Chinese bidders including Fosun, The Insurance Insider understands.
3 April 2018GREECE's NBG looking at all options on insurance arm sale, CFO says
Greece's National Bank is exploring all options on the sale of a majority stake in its wholly-owned insurance unit after a deal to sell the subsidiary to Netherlands-based investor Exin expired on Wednesday, the banks's CFO said.
3 April 2018Greece: China's FOSUN to bid again for ETHNIKI if winning bid fails
China's FOSUN expressed its interest in Greece's largest insurer ETHNIKI a few days before the deadline for the EXIN Group to implement the deal for the acquisition of 75% of ETHNIKI from National Bank of Greece - NBG.
28 March 2018GREECE: Ethniki equity listing possible if Exin deal flops
The Greek government may opt to list a portion of Ethniki's equity on a public market if Exin's offer to acquire the insurer falls flat, local press reports indicate.
22 March 2018STATISTICS: GREECE, FY2017: The positive rates reported on non-life side, maintained the market at the 2016 size
According to the year-end market figures published by HAIC - the Hellenic Association of Insurance Companies, the Greek insurance market totalled EUR.3.78 billion at the end of 2017, up by 0.05% y-o-y.
28 February 2018The modernisation of Greece's insurance sector
26 February 2018GREECE: Exin appeals for more time to finalise Ethniki offer
26 February 2018The sale of the Greek largest insurer remained under the question mark
The sale of the Greek largest insurer to the American-Dutch consortium CALAMOS-EXIN remained under the question mark after CALAMOS Family Partners had filed a legal action against EXIN Financial Services Holdings, wrote ekathimerini.com.
21 February 2018GREECE: NBG gives Exin until late March for Ethniki Insurance
The management of National Bank of Greece is considering waiting out the nine-month period of the provisional agreement with Exin Financial Services Holdings BV for the sale of Ethniki Insurance to see whether the deal falls through.
13 February 2018GREECE: 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 2017
