Premium income and profitability for Aspis Pronia General Insurance S.A. continued their upward trend in the first quarter of the current year. The net written premiums amounted to 57.6 mil. euros compared to 35.83 mil. euros for the respective period of 2007, an increase of 60.76%.

It should be noted that profitability based on consolidated results increased significantly. In particular, profit amounted to 5.67 mil. euros from 86 thousand euros in Q1 2007, an increase of 6,500%.

Notably, the company's total assets amounted to 692.4 mil. euros and total reserves reached 423.3 mil. euros from 396.5 mil euros for Q1 2006.

The company's top management stressed that the increase in profitability stems not only from the increase in premium income but also from the reduction in administrative expenses, which fell to 9% versus 13.21% in the corresponding period of 2007 (the fist time a single-digit number has been achieved).

This increased profitability is responsible for a significant increase in shareholders' equity, which rose to 68.35 mil. euros from 19.8 mil. euros in Q1 2007, an increase of 245%.

ASPIS PRONIA GENERAL INSURANCE S.A. received a B+ rating with stable outlook from the international credit rating house, Fitch. ASPIS PRONIA AEAZ (Property & Casualty) has also received a corresponding B+ rating. This particular initiative is part of the overall restructuring plan of the Group and of the adoption of the highest international operating standards.

It should also be noted that all the insurance companies of the Group located in Greece have been awarded this Insurer Financial Strength. Only the insurance companies of the Aspis Group have received a credit rating in Greece.

Finally, according to management estimates the premium income of ASPIS PRONIA GENERAL INSURANCE S.A. is expected to reach 300 mil. euros in 2008.