Cosmos Insurance Company Public Ltd. reported interim management statement for the period ended September 30, 2015. For the period, the group has registered profits compared to losses in the corresponding period of 2014. The profit attributable to the shareholders for the period until 30 September 2015 was EUR 562,972 compared to a loss of EUR 111,458 in the corresponding period of 2014. The profit is mainly attributed to: the improvement in the risk acceptance procedure; the decrease in insurance claims, especially in the medical care branch, and the containment of operating and administrative expenses. The total gross earned premiums for the period under review decreased by 7% and stood at EUR 14.10 million compared to EUR 15.12 million in the corresponding period of 2014. The decrease is the result of the continuing economic recession of the Cyprus economy as well as the termination by the company of unprofitable portfolios and group medical insurance policies. The total net insurance income for the period under review stood at EUR 9.45 million compared to EUR 9.80 million (decrease of 3%).

For the remainder of the year 2015, the group expects that the results from insurance operations will continue to improve in the coming months. The Group continues to focus on increasing its clientele based on quality assessment of risk acceptance, on the further containment of costs and the provision of better service to its clients and associates.