Eurobank has completed the acquisition of an 80% stake in Eurolife FFH Life Insurance (Eurolife Life).
The Greek bank stated that the stake was bought from entities controlled by Canada-based Fairfax Financial Holdings Limited.
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It added that, following completion of the deal, Eurobank now holds full ownership of Eurolife Life.
In October 2025, Fairfax Financial Holdings signed a term sheet with Eurobank under which Eurobank or an affiliate agreed to acquire an 80% stake in the life insurance business of Eurolife FFH Insurance Group Holdings from Fairfax affiliates for €813m (then $944m) in cash.
Commenting on the completion, Eurobank CEO Fokion Karavias said: “The acquisition completion of Eurolife provides an additional growth engine, particularly in insurance and asset management. Reflecting the strength of our performance and prudent capital management, we will distribute an interim dividend of €5.99 cents per share on 26 November.”
Eurobank also said the previously announced disposal of a 45% stake in ERB Asfalistiki, its non-life insurance subsidiary in Cyprus, to affiliates of Fairfax is expected to be finalised by the end of 2026, subject to the remaining approvals and closing conditions.
The completion announcement was issued at the same time as Eurobank’s nine-month 2026 financial results.
According to the results, net interest income rose 8.7% year-on-year to €2.07bn ($2.31bn), while net fee and commission income increased 13% to €630m.
Core income increased 9.7% year-on-year to €2.70bn, and total operating income was up 10.8% to €2.78bn.
Total operating expenses increased 6.9% to €995m, while the cost-to-income ratio improved to 35.8% from 37.1% in 9M25.
Core pre-provision income increased 11.4% to €1.70bn and pre-provision income rose 13.1% to €1.78bn.
Eurobank said core operating profit before tax increased 14.4% to €1.47bn.
Adjusted net profit rose 14.3% to €1.21bn, while reported net profit increased 12.4% to €1.16bn.
For the third quarter of 2026, net interest income increased 5% quarter-on-quarter to €719m.
