Eurolife Life Insurance Acquired by Eurobank | Financial Services M&A Deal

Eurobank has agreed to acquire Eurolife Life Insurance, a insurance brokerage business in Cyprus, for €813 million. Eurobank acquisitions expand the bank’s insurance distribution footprint through Eurolife Life Insurance, strengthening its position in financial services M&A in Nicosia. The add on acquisition increases Eurobank’s control of life insurance operations while preserving its 20% stake in Eurolife Holdings’ general insurance business. The strategic acquisition is structured as an add on acquisition, with Eurobank moving to 100% ownership on completion, following an earlier 80% stake transaction. Completion remains subject to required corporate approvals, and Eurobank expects no change to the previously estimated CET1 and profit and loss impact.