Our purpose

1923-1940

Interwar period

During the interwar period, Ethniki Asfalistiki leads the developments while performing exceptional financial robustness. The Company moves forward with the construction of its new building on Korai Street, “its living advertisement”, and prepares for the celebration of its 50th anniversary in 1941.

In 1940, the report of the Board of Directors foreshadows the beginning of a difficult five-year period for Greece: “Our company, consistent with its traditions, did not hesitate to fulfil its duty to the homeland, contributing with a generous donation to the reinforcement of the national struggle”.

1950-1969

Reorganisation

In the early 1950s, the upward business trend reflects the efforts towards the Company’s restructuring, despite the worsening of the international and, consequently, the local economy.

In the next years, Fire Insurance, Life Insurance and Mobility Insurance achieve excellent results, unlike Accident Insurance and Agriculture Insurance, which are affected by the founding of the Social Insurance Institute (IKA) and Agriculture Insurance Organisation (OGA). In 1963, with Dimitrios Helmis as President, Georgios Pesmazoglou as Vice President and Emanuel Chatziandreou as General Director, Ethniki Asfalistiki acquires again a wholly-owned building on Karagiorgi Servias Street, designed by the internationally-renowned Greek architect Iasonas Rizos.

In 1964, the Company founds the Greek Marine & Aviation Insurance Limited Company with a capital of 500,000 British pounds. In 1966, following the country’s association with the EEC, the Company’s Board of Directors “took timely measures to computerise its services to the extent possible”.

1978-1997

Entry in the EEC and merger

The year of 1979 is marked by Greece’s accession to the EEC. As a proponent of the European values, Ethniki Asfalistiki doubles its premiums in the General Insurance sector and achieves a productive increase of 15.2% in the Life Insurance sector. The Company’s network now consists of 46 branch offices and 317 agent offices.

In 1991, on its 100th anniversary, Ethniki Asfalistiki shows a 26% increase in revenue and 91.06% increase in net profits. Its dynamic growth culminates in 1997 with the completion of its merger with ASTIR, ETEVA and PANELLINIO, which places the Company at the forefront of the insurance market with 20% market share, 21 billion drachmas of equity and reserves, 5,000 partners and 1,500,000 customers.

2001-2006

New building

On its 110th anniversary, Ethniki Asfalistiki kicks off the excavation process at the Syngrou Avenue’s plot and begins the construction of its new building complex that will host all its operations.

The Karatza administration’s vision for a robust building presence with a view to the Acropolis and a special microclimate comes to life by the award-winning architect Mario Botta. The opening takes place on June 14, 2006 and Ethniki Asfalistiki proudly celebrates its 115th anniversary.

2015

Launching the "Full" Insurance Plan

Ethniki Asfalistiki presents the first product of the Full insurance products family, entering the health insurance sector with annual renewal. In the following years, the Full family expands to include products and services from all sectors.

2022 to present

The New Era

As of March 31, 2022, Ethniki Asfalistiki is writing a brand new chapter in its long history, since, on this day, the National Bank of Greece transfers 90.01% of the Company’s share capital to CVC Capital Partners’ Fund VII (CVC). The transaction includes the sale and transfer of all of the Company’s shares from the National Bank of Greece to CVC’s newly established subsidiary: Ethniki Holdings S.à.r.l, and the purchase by the National Bank of Greece of 9.99% of the share capital of Ethniki Holdings S.à.r.l.

Today, Ethniki Asfalistiki is still inextricably linked to the history of our country and the Greeks’ struggles and sacrifices, being present to their greatest challenges and achievements, as it always have been; always by the side of its people, always supporting the society, always true to its timeless values of ethics, excellence, customer centricity and social contribution, passing on its strong legacy for us all to keep moving forward.