Eurobank has announced the completion of the acquisition of 80% of Eurolife Life by Fairfax Financial Holdings, which has now acquired full control of the insurance company after receiving the necessary supervisory approvals.
With the transaction, the bank increases its participation to 100%, strengthening its presence in the insurance market, diversifying its revenue sources and expanding its bancassurance activities. At the same time, Eurobank announced that the sale of 45% of the Cypriot ERB Asfalistiki to Fairfax is expected to be completed by the end of 2026, subject to the required approvals.
As the bank states in its announcement, following its earlier announcements on 13 October, 2025 and 7 May, 2026, "Eurobank Bank S.A." (hereinafter "Eurobank" or the "Bank") announces the completion of the acquisition of 80% of Eurolife FFH Single-member Life Insurance Company, with the distinctive title "Eurolife FFH AEAZ" ("Eurolife Life") from companies controlled by Fairfax Financial Holdings Limited ("Fairfax") (the "Transaction"), following receipt of the required supervisory approvals and fulfillment of the relevant completion conditions.
With the completion of the Transaction, Eurobank now owns 100% of Eurolife Life, one of the leading life insurance companies in Greece. The acquisition is a significant milestone in Eurobank’s strategy to strengthen its presence in the insurance sector, diversify its revenue sources and further develop its bancassurance business, leveraging Eurolife Life’s established market position and distribution network.
Eurobank also informs that the sale of a 45% stake in ERB Asfalistiki Limited, its subsidiary in the non-life insurance sector in Cyprus, to affiliated companies of Fairfax, as announced on 7 May, 2026, is expected to be completed by the end of 2026, subject to the receipt of the remaining approvals and the fulfillment of the other conditions for its completion.
(Source: InBusinessNews)
