EUPIC: European Reliance Insurance

[randomep]

Hi all,

 

I own a microcap Insurance company in Greece. It is very profitable and trades below book, you can read my thought below:

 

http://bovinebear.blogspot.com/search/label/EUPIC

 

However, the real reason I am posting here is that I need help translating their latest press release.... google translate won't work for this cos it is about capital stock. I really need someone who knows finance lingo and knows greek to help me! thanks in advance

 

the doc is attached

 

special.pdf

special.pdf

[Okta]

Nice Q1 2015: http://ir.europaikipisti.gr/en-us/analystcorner/european-reliance-analystcorner

[randomep]

Nice Q1 2015: http://ir.europaikipisti.gr/en-us/analystcorner/european-reliance-analystcorner

 

Kicked butt, and if the Greek / eurozone tug of war ends this month, this baby better double!

[Ulrich]

Had a nice runup after full year earnings to now over 3 euro. But still trading at 6 times earnings. Bought end of last year between 1,88 and 1,97. So already a nice return.

 

There is not much not to like. They make a near to 20 percent RoE pre-Tax. Big Insider-Ownership. There Car-Insurance Business makes great returns.

 

With the momentum of the last few years it would trade at minium 1.5 times book value, if it would sit Germany oder France. The risk is of course the greece domicile. But the bond portfolio invest in bonds from the stronger European countries, because the average rating of their assets is higher investment grade and Greece itself has a junk credit rating.

 

I think this company is the much safer way to play Greece Financials than the big Greece Banks.