NICOSIA, Cyprus, May 19, 2016 /PRNewswire/ --
The Cyprus-based insurance company Olympic Insurance Company Limited which was acquired by NYSB Financial Group Luxembourg presented its new board of directors on 7 and 8 April 2016.
Following NYSB Financial Group Luxembourg's acquisition of Olympic Insurance Company Limited last December, the company presented its new Board of Directors in two events held on 7 and 8 April in the Cyprus Hilton Nicosia and Hotel St Raphael in Limassol.
At the Nicosia event, a representative was present from the Insurance Companies Control Service which is the insurance regulatory branch from the Ministry of Finance in Cyprus.
At both the Nicosia and Limassol events, all members of the Board of Directors were present including the new President and Managing Director of the company.
Olympic Insurance Company Limited is an insurance company headquartered in Nicosia (Cyprus) who currently has operations in the Cypriot and Bulgarian markets.
Following the acquisition, the company now holds assets of 22 million euros with a solvency ratio of 200%.
NYSB Financial Group Luxembourg acquired Olympic Insurance Company Limited with the objective of increasing its market share in the markets in which it currently operates and to expand its operations into other European markets.
NYSB Financial Group Luxembourg is a holding company based in Luxembourg and is composed of various companies specialised in the financial, banking and private sector.
About Olympic Insurance
Olympic Insurance Company Limited is an insurance company based in Cyprus and was founded in 2001.
In 2009 it acquired the first available insurance licenses in Bulgaria. In the same year, it extended its licenses in order to provide a wide range of insurance products to both the private and business sectors in Bulgaria.
At the end of 2015, NYSB Financial Group Luxembourg acquired 100% of the company.
Link to Website
For more information:
Ms Gemma Revilla
Olympic Insurance Company Limited,
SEK Building, 3rd & 4th Floor,
1060 Nicosia (Cyprus)
SOURCE NYSB Financial Group Luxembourg