Finance
Piraeus Bank Agrees to Buy 90% of Ethniki Insurance From Cvc
Published by Global Banking & Finance Review®
Posted on March 12, 2025
1 min readLast updated: January 24, 2026
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Piraeus Bank is set to acquire a 90% stake in Ethniki Insurance from CVC for €600 million, aiming to increase fee revenues significantly.
Piraeus Bank Acquires Majority Stake in Ethniki Insurance
ATHENS (Reuters) -Piraeus Financial Holdings <BOPr.AT> said on Wednesday it has clinched a deal to buy 90% of Greek insurer Ethniki Insurance from CVC Capital Partners for 600 million euros.
Piraeus, one of Greece's four largest banks said last month it was in exclusive talks to acquire Ethniki Insurance, which expected to increase fee revenues to 30% from about 20% last year.
CVC, which manages assets worth 191 billion euros, bought a 90% stake in Ethniki, the country's second largest, from National Bank in 2021.
Greek banks have got back to normal after three recapitalisations that led to their nationalisation after the country was rocked by a financial meltdown in late 2009.
(Reporting by Lefteris Papadimas; Editing by Leslie Adler and Nick Zieminski)
Key Takeaways
- •Piraeus Bank to acquire 90% of Ethniki Insurance.
- •The deal is valued at 600 million euros.
- •CVC Capital Partners previously held the stake.
- •The acquisition aims to boost fee revenues.
- •Greek banks have stabilized post-2009 crisis.
Frequently Asked Questions about Piraeus bank agrees to buy 90% of Ethniki Insurance from CVC
1What is the main topic?
The article discusses Piraeus Bank's acquisition of a 90% stake in Ethniki Insurance from CVC Capital Partners.
2Who is selling the stake in Ethniki Insurance?
CVC Capital Partners is selling the 90% stake in Ethniki Insurance.
3What is the value of the acquisition deal?
The acquisition deal is valued at 600 million euros.
