Eurobank has announced that it has signed a definitive agreement for the acquisition of Eurolife Life Insurance, with the price for the insurance company amounting to approximately €813 million. After completion, Eurobank will own 100% of Eurolife Life and will retain its 20% stake in the general insurance business of Eurolife Holdings.
An official notice submitted to the Cyprus Stock Exchance (CSE) notes, "Further to its announcement dated 13 October 2025, Eurobank S.A. (“Eurobank”) announces that it has entered into a definitive share purchase agreement (“SPA”) with entities controlled by Fairfax Financial Holdings Limited (“Fairfax”) in connection with the acquisition of 80% of Eurolife FFH Life Insurance Single Member S.A. (“Eurolife Life”) (the "Transaction").
The consideration for Eurolife Life amounts to approximately €813 million. Following completion of the Transaction, Eurobank will own 100% of Eurolife Life and will continue to own 20% in Eurolife Holdings’ general insurance business. Eurobank also confirms that the previously announced transaction regarding the sale of a 45% stake in ERB Asfalistiki (Cyprus) will be signed in the coming weeks, subject to the receipt of the required corporate approvals, for cash consideration of approximately €55 million."
It continues that, "The estimated impact of the transaction on the Group’s P&L and CET1 ratio remains in line with the previous announcement. Completion of the Transaction is subject to the receipt of all required approvals, as well as the satisfaction of customary closing conditions, and is expected to occur during Q3 2026.
Deutsche Bank AG, London Branch acted as financial advisor to Eurobank, EY provided due diligence services, while Milbank LLP and PotamitisVekris acted as legal advisors in connection with the Transaction."
