Eurobank completes €813 million purchase of Eurolife Life Insurance

Athens, Greece. Eurobank has finalised the €813 million purchase of the remaining 80 per cent of Greek life insurer Eurolife Life Insurance, taking its holding to 100 per cent. The bank said on Thursday that the regulatory approvals had been received and the closing conditions met.

Details of the acquisition

The deal covered 80 per cent of Eurolife FFH Life Insurance Single Member Société Anonyme Company, which trades as Eurolife FFH Life Insurance SA. The shares were bought from entities controlled by Fairfax Financial Holdings Limited.

The transaction builds on announcements made in October 2025 and May 2026. Eurobank described it as an important move in its plan to grow its insurance operations and widen its revenue base.

In May, the bank had stated that the price was about €813m and that completion was expected in the third quarter of 2026.

Strategic aims

Eurolife Life is among the leading life insurers in Greece. With full ownership, Eurobank intends to reinforce its standing in the insurance market and to develop further its bancassurance activities, which combine banking and insurance services.

The bank said the purchase would let it build on the established market position and distribution network of Eurolife Life.

Financial impact

The completion announcement gave no update on the previously disclosed estimate of how the acquisition would affect the group’s profit and loss account or its common equity tier 1 (CET1) capital ratio, a measure of a bank’s financial strength.

Cypriot insurance unit

The sale of part of Eurobank’s Cypriot insurance business has not yet been completed. The bank expects to transfer a 45 per cent stake in ERB Asfalistiki Limited to Fairfax affiliates by the end of 2026.

That transaction is still subject to outstanding regulatory approvals and other closing conditions.