Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
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.
Eurofound (2009), EOS, Bankruptcy in Greece, factsheet number 68676, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68676.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
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