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General Insurance hands over Greece insurance portfolio to ERGO

24 January, 2014

General Insurance of Cyprus, the wholly-owned insurance subsidiary of the Bank of Cyprus Group, is to transfer the entirety of its client portfolio in Greece to ERGO General Insurance Company S.A. with which it already cooperates in Greece.
In an announcement, the company said that “the agreement provides for the gradual transfer to ERGO of existing insurance policies which were issued by Kyprou Asfalistiki, the branch of General Insurance of Cyprus in Greece. At the same time, the agreement also encompasses broader cooperation in the non-life insurance sector in Greece.”
ERGO is part of the Munich Re Group with whom General Insurance of Cyprus also collaborates in Cyprus, looking after the interests of their insured in the best way possible.
The company added that “the agreement does not affect the rights of customers who have insurance policies with Kyprou Asfalistiki, which will remain in force until their expiry. Additionally, it offers the best prospects since ERGO, a leading provider of insurance services in Greece, is the most dependable choice to meet the future insurance needs of Bank of Cyprus customers.”