Ethniki losses mitigated by reinsurance coverage

Ethniki Insurance showed losses of 38.4 million euros (€36.1 million at group level) in 2023, a result that was burdened mainly by the damaging effect of the old health portfolio as well as compensation for damage caused by Storm Daniel.

As stated in the financial statements of the company, published last Friday, the life and health portfolio of Ethniki Insurance is divided into old and new, with the new one including investment products.

Greece's biggest insurance company recorded losses of €85.4 million from the old health insurance portfolio and another €60.1 million from Daniel, though that was reduced to €11.9 million after the reinsurance coverage.