Eureko Net Jumps 117% to $555 Million

April 9, 2001

Eureko, the Dutch-based insurance group, which is part of the pan-European Eureko Alliance, announced that its pretax profits rose 117 percent last year to € 614.7 million ($555 million). The group which was formed last year by the merger of Holland’s Achmea, Portugal’s Seguros e Pensoes and the acquisition of 90 percent of the U.K.’s Foreign & Colonial, saw gross premiums written rise to € 6.7 billion ($6.06 billion), while claims fell by 6 percent.

The group recently settled a dispute with the Polish government over the management of Polish insurer PZU. It is expected to acquire an additional 21 percent of the company’s shares to add to is current 30 percent holding, when the company is privatized later this year.

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