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Bank Of Cyprus Moves Forward With €29.5 Million Ethniki Insurance Acquisition

by News Editor

April 14, 2025

The financial landscape in Cyprus is witnessing a transformative shift as the Bank of Cyprus moves forward with its €29.5 million acquisition of Ethniki Insurance (Cyprus) Ltd. This initiative marks a significant step in the Bank’s strategy to expand its insurance enterprise.

On April 14, 2025, a binding agreement was formalized between the Bank of Cyprus and Ethniki Hellenic General Insurance Company S.A., outlining the terms of acquiring 100% ownership of Ethniki Insurance (Cyprus). This deal awaits regulatory endorsement and is anticipated to conclude in the latter half of 2025.

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What This Acquisition Means For Cyprus

Ethniki Insurance (Cyprus) currently maintains a stable foothold in both life and general insurance sectors with a market share of 2% and 4%, respectively. Upon completion, this acquisition will bolster Bank of Cyprus’s dominance in the Cypriot insurance market.

The projected outcomes are promising, with predictions of a 15% boost in gross premium income and a 10% rise in net result from insurance operations. Such growth will enhance the bank’s non-interest income, securing its profitability.

A Strategic Growth Path

Aligning with the Group’s commitment to diversifying its business model, this acquisition underscores Bank of Cyprus’s long-term vision to consolidate its insurance portfolio. The financial advisement was managed by Deloitte Limited while Chryssafinis & Polyviou LLC handled legal aspects.

The Future Forbes Realty Global Properties

SEC Drops Lawsuit Against Gemini: A Major Turning Point In Crypto Regulation

by THEFUTURE.TEAM

January 26, 2026

SEC Dismisses Legal Action Against Gemini

The Securities and Exchange Commission has formally withdrawn its lawsuit against Gemini, the prominent crypto exchange founded by twins Cameron and Tyler Winklevoss. The move follows a joint court filing in which both the regulator and Gemini sought dismissal of the case that centered on the collapse of the Gemini Earn investment product, a debacle that left investors without access to their funds for 18 months.

Settlement And Regulatory Reassessment

In a significant development, a 2024 settlement between New York and Gemini ensured that investors recovered one hundred percent of their crypto assets loaned through the Gemini Earn program. The legal reprieve comes on the heels of actions initiated by New York Attorney General Letitia James, who accused Gemini of defrauding investors.

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Political Backdrop And Industry Implications

This dismissal reinforces a broader trend of regulatory leniency toward the crypto sector noted during the Trump administration, which saw the SEC dismiss, pause, or reduce penalties in more than 60 percent of its pending crypto lawsuits. Meanwhile, Gemini’s recent public offering filing underscores its ambitions to solidify its status as a major player in the evolving digital asset market.