Nov 23, 2016

Solvency Capital Requirement (SCR) 215%

GENIKI PANELLADIKI fully responds to the Solvency II regulatory obligations and is pleased to announce the overshooting of the Solvency Capital Requirement (SCR) by 215% for the nine months of 2016, reaching a profitability of more than €1.2 million.

The positive course, as reflected in profitability and capital adequacy results, confirms the strength of GENIKI PANELLADIKI capital position in its demanding and specialized business scope as well as in the difficult and volatile business environment of the Greek insurance market.

In this context, the General Manager, Mr. Efstathios Froussos states that: “GENIKI PANELLADIKI management invests in infrastructure and specialized personnel to continuously comply with the requirements of the new Supervisory Framework and commits to continue to offer high quality products and services for both existing and new policyholders as well as strong, sustainable and profitable growth for its members, employees and partners.”