Athens, Greece. Eurobank said it has entered into a definitive agreement to acquire an additional 80 per cent stake in Eurolife Life Insurance, a move it said strengthens its position in the insurance sector.
Agreement and purchase price
Eurobank said the agreement was signed with entities controlled by Fairfax Financial Holdings Limited for the acquisition of 80 per cent of Eurolife FFH Life Insurance Single Member S.A. The bank said the consideration amounts to approximately €813 million.
Ownership structure after completion
Upon completion of the transaction, Eurobank said it will own 100 per cent of Eurolife Life. The bank added that it will continue to hold a 20 per cent stake in Eurolife Holdings’ general insurance business.
Reference to previous announcement
Eurobank said the transaction follows an earlier announcement made on October 13, 2025.
ERB Asfalistiki (Cyprus) transaction
Eurobank said the previously announced transaction concerning the sale of a 45 per cent stake in ERB Asfalistiki (Cyprus) is expected to be signed in the coming weeks, subject to the necessary corporate approvals. The bank said the transaction is expected to generate a cash consideration of approximately €55 million.
Financial impact
Eurobank said the estimated impact of the acquisition on the group’s profit and loss account and on its common equity tier 1 (CET1) ratio remains unchanged compared with the previous announcement.
How do you expect Eurobank’s full ownership of Eurolife Life to affect its insurance business strategy?