Eurobank Limited has announced that the merger of the Group’s Cypriot insurance companies was completed on 10 October 2025.
Under the merger, the entire insurance portfolios, assets, and liabilities of Hellenic Life Insurance Company Limited and Pancyprian Insurance Limited were transferred to ERB Cyprialife Limited and ERB Asfalistiki Limited, respectively, a press release said.
This merger results in the formation of two robust insurance companies:
· ERB Cyprialife, operating in the Life and Health sector, and
· ERB Asfalistiki, operating in the General Insurance sector.
With many years of experience, specialised expertise, and recognised reliability, both companies – as members of the largest bancassurance group in Cyprus – continue to play a leading role in the Cypriot insurance market, offering comprehensive solutions for every insurance need.
Statements from management
Takis Phidias, CEO of ERB Cyprus Insurance Holdings Limited, stated: “With the completion of the legal merger, our companies — ERB Cyprialife and ERB Asfalistiki — are stronger than ever. With people at the centre and by leveraging the competitive advantages offered by our parent Eurobank Group, we provide our policyholders with the most advanced insurance services, building strong relationships of trust.”
Michalis Louis, CEO of Eurobank Ltd, added: “The completion of the insurance company mergers marks another milestone for Eurobank. We are creating the largest insurance organization in the country, aiming to offer our clients even more integrated, high-quality bancassurance solutions with added value. With consistency, stability, and a human approach, we continue to invest in the Cypriot market, leveraging the strength of our Group to deliver innovative products, enhanced services, and a total customer experience founded on trust and transparency.”
