Achmea expands its activities in Cyprus

Achmea is expanding its existing activities in Cyprus. Interamerican, the Greek subsidiary of Achmea, is taking over the non-life insurance portfolios of the Cypriot direct insurer Gan Direct Insurance, doubling its portfolio in Cyprus. As a result of this acquisition Interamerican, which is already active in Cyprus with its digital direct insurance platform Anytime, will reinforce its role as one of the leading insurers in the Cypriot market. 

Gan Direct Insurance has been operating in Cyprus since 1994 and has built a strong reputation as a direct insurer, allowing customers to purchase insurance without intermediaries. 

The acquisition underlines Achmea's growth strategy in non-life insurance through direct and digital channels. Robert Otto, member of the Executive Board of Achmea: “This portfolio acquisition is in line with our international ambitions. Gan Direct has built a strong name in Cyprus in direct, digital non-life insurance. By adding these portfolios to our operations, we are strengthening our position and accelerating growth in the region.”

Market leader and growth strategy
Achmea is the market leader in non-life insurance in Greece with Interamerican. In Greece and Cyprus, Interamerican offers online insurance directly under the Anytime brand. And since last year also in Romania.

The acquisition will be submitted to the local regulator for approval.