EFG Eurolife reports improved 2010 results

EFG Eurolife Insurance on Monday said its premium production totaled 336.5 million euros last year, up 3.6 pct from 2009 and announced that pre-tax profits grew 4.3 pct to 65.5 million euros.

Premium production of its life insurance business totaled 267.8 million euros in 2010, up 1.3 pct from 2009, while bancassurance activities grew 13.7 pct to 141.8 million euros. The life insurance business reported a pre-tax profit of 43.5 million euros, down 3.3 pct from 2009.

The general insurance business reported a premium production of 68.8 million euros last year, up 13.6 pct from 2009, while pre-tax profits totaled 22 million euros, up 23.5 pct.

EFG Eurolife said its equity capital more than covered the necessary credibility margins, reflecting the group’s financial strength.



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