Republish from the special edition of Nextdeal (Issue 560)
Ioannis Lapatas,Chairman of the Board of Directors &Chief Executive Officer, ATLANTIC UNION
Atlantic Union is a multinational insurance company with stable Greek management, composed of experienced insurance professionals committed to the company’s growth in the Greek market. Since 1972 its minority shareholder is the Swiss bancassurance group BALOISE. Following the anticipated merger of the two leading Swiss groups, Baloise and Helvetia, the new insurance group to emerge will become the new minority shareholder. It will rank among the top 10 European insurance groups and become the second largest in Switzerland, with a total premium volume of approximately $24 billion, also becoming the largest employer in the Swiss insurance market.
Atlantic Union has ranked First in Reliability for the 9th consecutive year among General and Life Insurance Companies, with a Solvency Ratio of 297%, and remains consistently among the top 10 insurance companies in Greece based on its own funds.
Since its founding, the company has held an operational license for all lines of insurance (Auto, Property, Liability, Marine, Life & Health, etc.), offering comprehensive and competitive solutions for a wide range of insurance needs.
Ioannis Lapatas
In 2024 Atlantic Union achieved:
1. Premium Production
The company recorded a 14,80% increase in total premium production compared to the same period last year (whereas the market average increase was 8,7% according to H.A.I.C.). Significant performance was recorded in key lines (Motor: +15,67%, Property: +13,02%, Life/ Health: +29,34%).
2. Profits
Net profits before taxes followed the upward trend of the past 36 years, amounting to €7.593.871 in 2024, showing an increase of 25,97%
3. Investments
The company’s investments in 2024 reached €170.754.269 increased by 5,43% compared to 2023, with a corresponding increase investment income.
4. Assets
Total assets amounted to €186.899.704 as at 31.12.2024, compared to €178.198.347 the previous year, depicting an increase of 4,88%.
5. Own Funds
Own funds amounted to €93.881.663, increased by 7,55% compared to the previous year, placing the company among the first 10 insurers in the Greek market.
6. Solvency Ratio
Atlantic Union achieved for the 9th consecutive year to be in the First place among General and Life Insurance companies of the Greek market with the highest Solvency Ratio of 297% (as at 31/12/2024).
At the same time Atlantic Union with its financial achievements is constantly being modernized and strengthened across all areas:
- It staffs its departments with experienced professionals from the market while offering career opportunities to young university graduates, shaping the company’s future.
- Offers innovative insurance products, including group insurance programs for small medium enterprises (SME’s), schools, tutoring centers, sports academies, travel insurance (short or annual coverage, as well as trip cancellation), international student insurance (Erasmus & Erasmus Plus), Environmental Liability, and Business Interruption Insurance for small and large enterprises. It also offers market-leading marine cargo and yacht and expatriate insurance solutions.
- Supports its partners through advanced digital tools, such as the Atlaweb portal—a complete electronic office accessible via computer or the Atlantiki Enosi Mobile app. Clients benefit from simplified service processes, including the Atlantiki Assistance mobile app for accident or breakdown support.
- Actively supports insurance intermediaries, showing long-term commitment through a highly rewarding incentive plan (combining strong commission rates with bonus programs), along with a comprehensive training system (both in-person and online), including certification and recertification seminars (according to the requirements of Bank of Greece), plus numerous independent training sessions.
One of Atlantic Union’s most significant characteristics is its deep social awareness in dealing with important issues affecting both Greece and the broader world. The company’s contribution to Corporate Social Responsibility brings it closer to society. At the same time, its leadership and staff work daily to uphold the vital role of the insurance institution in people’s lives.
Read below the article from the special edition of Nextdeal (Issue 560) in electronic format, page 59 (click bottom right to enlarge)
