On 4 May 1994 , Liberty Life Insurance Public Co Ltd was established as a Private Limited Liability Company and commenced its operations in August of the same year, with the main activity being the provision of insurance services in the life, accident and health sectors.
Staffed by qualified administrative staff and with sales network that exceeds 100 insurance directors, it is transformed in 1995into a Public Company based on the Companies Law. In January 1996 , he applied for admission to the Cyprus Stock Exchange and in March of the same year he entered the CSE. Following an upward trend and increasing its turnover, Liberty Life Insurance Public Co Ltd acquires an important share of the insurance market in the coming years.
In 2001, the Company introduces new innovative insurance products to the market, following an in-depth study of the needs and trends of the era, while increasing its sales network. In July 2002 , a takeover agreement was signed by Aspis Holdings Plc, which marks the beginning of its turnaround.
Since December 23, 2003 , one of the five largest reinsurance groups worldwide, has been participating in the Company's share capital, up to 11%. This reinsurance group carries out business activities in the Property / Accident, Life / Health reinsurance business as well as financial risks / limited risks. The reinsurance of this group reaches EUR 12.5 billion and its share capital exceeds EUR 1.7 billion.
At the end of July 2006 , Liberty Life Insurance Public Co Ltd made a significant acquisition, expanding and strengthening its presence in the insurance market, acquiring the share capital of Aspis Pronoia Cyprus Ltd. At the same time, a merger plan of the two companies is being circulated, aiming at the consolidation of their financial figures.
In 2008 , following the prior approval of the Insurance Commissioner, the merger of Liberty Life Insurance Public Co Ltd and Aspis Pronoia Cyprus Ltd was successfully completed. The new Company created with this acquisition is registered with the Registrar of Companies under the name Aspis Liberty Life Insurance Public Co Ltd.
On October 7, Liberty Life is signing a contract for an Associate Insurance Advisor with the Cyprus Bank Universal Bank Public Ltd, renamed USB Bank. The whole event marks a new beginning in the bancassurance facts of Cyprus, since the experiences and know-how of the two companies are based on a single pillar: The Man!
From 2010, the majority share of the Company's shares was purchased by Elma Holdings to which it belongs until today.
Vision and Goal
Liberty Life's fundamental goal and vision is to establish itself in the conscience of Cypriot Citizen as the Company that proves to be a supporter in meeting its modern needs and protection.
Its philosophy is based on the study of each case and each client separately so that it provides comprehensive insurance proposals, quick and correct compensation, but mainly consistency in service to the Insured Person.
Where is Liberty Life