Bank of Greece Revokes Licence of Evima Group

Bank of Greece Revokes Licence of Evima Group
Οn Friday, February 08, the Commission for Credit and Insurance Issues of the Bank of Greece decided to permanently revoke the operation license of the insurance company Evima Group (formerly known as “Proton Anonymous Insurance Company”), and put the company into liquidation.
In relevant announcement statement it is noted that Evima Group is an insurance company that operates in Greece, mainly in civil liability insurance for motor vehicles. The company was not able to maintain solvency margin requirements (regulatory capital), which by law are necessary to protect the interests of the insured and any other person entitled to indemnity. At the same time, it wasn’t able to establish adequate technical reserves and presented a deficit.
EVIMA had insured over 200.000 vehicles and a total premium of more than 65 million euros. The company was founded in September 2010 and was acquired by Proton Bank in July 2010 with a 100% Credit.  Proton’s (5) buyers, assumed the Company’s debts, amounting to 25 million euros.
Click here for the Greek article.
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