EOS

Type
Bankruptcy
Country
Greece
Region
Attiki; Attiki;
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
100 jobs
Number of planned job losses
Job loss
Announcement Date
2 April 2009
Employment effect (start)
2 April 2009
Foreseen end date
3 April 2009

Description

Insurance firm EOS was forced to close down early April  as it could not cover the solvency margin required. Consequently, its total workforce of 100 employees, all over Greece, lost their jobs.

The company was managing some 210000 policies by the end of 2008, most of which (135000) were car insurance, although in the last three months many clients had decided to move to another insurer.

EOS was operating since December 2002 with headquarters in Maroussi, Attiki, a customer service centre in Thessaloniki, and over 1000 retail locations in Greece. It had been placed 49th out of 79 insurance companies operating in the Greek market.

Sources

  • 2 April 2009: Kathimerini

Citation

Eurofound (2009), EOS, Bankruptcy in Greece, factsheet number 68676, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68676.