A major milestone was the completion of its acquisition by Piraeus Bank, a transaction that creates new growth prospects and further strengthens the company’s position in the Greek insurance market.
The financial results of 2025 reflect dynamic development of Ethniki Insurance, with profits before tax (IFRS) reaching EUR 48.0 million vs EUR 14.8 million in 2024. This significant increase reflects the progress of the Company's transformation actions, improved operational performance, strong returns in all key sectors and the disciplined risk-taking policy.
Adjusted operating profit stood at EUR 44.5 million, up almost 70% y-o-y, while the adjusted Return on Equity stood at 8.4% compared to 3.5% in 2024, up 4.9 percentage points.
Ethniki Insurance's capital position remained strong, with the Solvency Ratio reaching 177% at the end of 2025, exceeding regulatory requirements. Eligible own funds amounted to EUR 521 million, ensuring the company's ability to successfully respond to potential challenges and confirming the strong structure and resilience of its balance sheet.
"2025 was a milestone year for Ethniki Insurance, as we successfully completed the first cycle of our strategic transformation and are entering the next phase with a more modern, efficient and resilient operating model. Significant improvement in our profitability, our strong capital base and support of Piraeus Bank Group create conditions for accelerating our growth. With these resources and a strong strategic direction, we enter 2026 ready to offer modern, affordable and reliable insurance solutions, creating long-term value for our policyholders, partners and shareholders", commented Dimitris Mazarakis, CEO of Ethniki Insurance.
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