SYNETERISTIKI INSURANCE. was born in 1978 with its roots in cooperative ideology. The Greek agricultural cooperative organizations founded the first and only cooperative insurance company. Later, the company’s statutes were modified and allowed other forms of local cooperative organizations (credit, consumers, etc) as well as major European cooperative insurance organizations, such as Unipol Assicurazioni (Italy), Macif (France), P&V (Belgium), Euresa Holding, to become shareholders and offer their remarkable know-how from their respective markets. Today, the company’s shareholders number 123, all representing the wider social economy sector.
OUR ORGANIZATIONAL
STRUCTURE
OUR LEGAL FRAMEWORK
OUR PHILOSOPHY
OUR INTERNATIONAL COOPERATIVE BONDS
OUR PEOPLE
OUR CLIENTELE
OUR UPWARD COURSE
EVOLUTION OF SYNETERISTIKI INS. CO.
NETWORK – AREAS OF ACTIVITY
Syneteristiki Insurance shows a dynamic presence all over Greece through a
continuously upgraded network of 850 sales points with effective and consistent
correspondence towards the needs of the consumers, operating most insurance
branches, such as:
- • Fire and Allied Perils
- • Motor and Agricultural Machinery
- • Pleasure Boats T.P.L.
- • Legal Protection
- • Road Assistance
- • Cargo
- • Contractor’s & Erection All Risks
- • Burglary
- • General Third Party Liability
- • Professional Indemnity of Intermediaries
- • Credit
- • Life
- • Group, Investment Products
Contact us by phone, fax or
email about any problem, query or clarification. The competent department of
SYNETERISTIKI INS. CO. will reply to you within 24 hours at the latest, using
the same means of communication or another means you may request.
Athens Head Offices:
367 Syngrou Avenue, GR-17564 Paleo Faliro
Tel.: 210 949 1280 - 299, Fax: 210 940 3148
Thessaloniki Branch:
27 - 29 Polytechniou St., GR-54626 Thessaloniki
Tel.: 2310 554331, 544775 , 554036 Fax: 2310 500240
You may also contact any employee from our personnel, by downloading the
following list of emails: 
Syneteristiki Insurance’s difference is demonstrated in its structural model. The Board of Directors is elected directly by the shareholders and along with the Chairman map out mid-long term corporate objectives and strategies, the materialization and fulfillment of which the company’s executives are responsible.
Through democratic administration and development of the personnel, we ensure the effectiveness of actions, so as to correspond to the demands of the insurance market. The company’s operations, with modern administration methods, an extended network all over Greece, excellent service and modern technical infrastructure significantly strengthens its developing course.
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OUR LEGAL FRAMEWORK
Syneteristiki Insurance since its foundation is an Insurance Societe Anonyme
Company and operates according to the Greek Law in relation to the operational
status of all Greek insurance companies. The corporate share capital has been
fully paid by its shareholders.
In 1994, the company’s statutes were modified; thus an
increase of the share capital took place and with the participation of its
European partners, SYNETERISTIKI Life was created.
Finally, in 1999 SYNETERISTIKI Life and SYNETERISTIKI Insurance merged in order
to attain a better and more flexible as well as competitive mutual functioning
of both companies. In addition, the company’s administration is always targeting
at the accomplishment of further corporate growth and products enrichment with
new insurance policies.
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OUR PHILOSOPHY
Syneteristiki is the only cooperative insurance company in Greece with a
dedicated anthropocentric - social character. It sustains and represents the
cooperative ideology and principles in Greece by offering special and unique
insurance products to the cooperative organizations, while it operates also
successfully in the wider insurance market. Syneteristiki Insurance focuses on
the person and his/her needs, offering a great range of modern insurance
products suitable for all its customers.
OUR INTERNATIONAL COOPERATIVE BONDS
Syneteristiki Insurance cultivates a close relationship with the International Cooperative Movement being an active member of the Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE) and the International Cooperative and Mutual Insurance Federation (ICMIF).
Additionally, the company has mutual representation agreements with quite a few European cooperative insurance organizations.
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OUR PEOPLE
The powerful advantage of Syneteristiki Insurance is the experienced and effective personnel, who, through a pleasant and creative environment, offer solutions at all levels of co-operations. Their principles rule the way they act in business, offering a real choice in private insurance.
More than 250.000 insured parties trust Syneteristiki Insurance in order to cover their insurance needs. Physical or legal entities from all the socio-economic classes of Greek society and business, as well as cooperative organizations (cooperative unions, cooperative banks, group of producers, municipalities, unions, private companies, e.t.c.) make up our clientele.
Syneteristiki Insurance having already strengthened its position in the insurance market continues its fast growing course of development. It participates in and follows closely market evolutions and is a solvent and reliable insurance company. It invests in both human and material resources, constantly reorganizing its sales network, improving its services, applying and establishing new ways of technological communication with our customers.
Through the sustainable management of human and financial resources, we have developed a judicious strategic plan.
At the same time, we are strengthening our ties with the Greek cooperative organizations, the social ecomony organizations, the international cooperative movement and we create new synergies with all the cooperative banks.
Moreover, the shareholders of Syneteristiki Insurance offer great assistance to our strategies by supporting the efforts of the company’s management in developing its position on the Greek insurance market.
EVOLUTION OF SYNETERISTIKI INS. CO
The development of the most important financial figures for our Company, is as follows:(in .000 €)
2010 |
2009 |
Variation |
% |
|
Motor Premiums |
29.656 |
25.940 |
3.716 |
14,33% |
Other Non-Life Premiums |
13.261 |
13.069 |
192 |
1,47% |
Life Premiums |
4.287 |
3.315 |
972 |
29,32% |
Incurred Losses |
32.127 |
24.733 |
7.394 |
29,9% |
Technical Reserves |
59.249 |
52.264 |
6.985 |
13,4 % |
Result |
858 |
618 |
240 |
38,84% |
Investments |
60.926 |
49.800 |
11.126 |
22,3% |
According to the above-mentioned figures, it can been noted that Syneteristiki Ins. Co. followed a prudent course with very profitable results. It has restricted its development in Motor business but at the same time, it has increased its reserves and payments in Motor. It concentrated on the development on the other non-life and life business, increasing its production in these branches.
OBJECTIVES - PERSPECTIVES
Syneteristiki Ins. Co. remains to its values and objectives, which are to
satisfy the needs of its customers by providing a high standard service and to
secure the investments of its Shareholders and the future of its employees.
Armed with such values as INTEGRITY, RESPECT, RESPONSIBILITY and MOTIVATION
targets at:
- • To pursue new synergies with organizations of the social economy sector.
- • To enhance the development of the bancassurance business with the Cooperative Banks.
- • To continue the professionalization of its sales network.
- • To educate and train its human resources, both employees and sales force.
- • To modernize its functional procedures, will continue its successful course within the market, winning the respect and the trust of its clientele, its collaborators and its competitors.
Years |
1979/1983 |
1984/1988 |
1989/1993 |
1994/1998 |
1999/2003 |
2004/2008 |
2009/2010 |
Capital evolution |
758.908 |
1.283.359 |
2.765.499 |
4.875.067 |
5.345.441 |
14.185.746 |
15.180.663 |
Production evolution |
483.213 |
1.117.899 |
4.181.760 |
10.627.208 |
24.450.652 |
35.303.507 |
47.204.326 |
* in euro |
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