Kelemenis & Co. acts for insurance company Ydrogeios in the sale of its stake Cypriot subsidiary and in observing formalities relating to SOLVENCY II

The firm has acted for insurance company Ydrogeios, a leader in the Greek property insurance market, in the sale of the company’s stake in its Cypriot subsidiary. In doing so, besides overseeing the entire contractual documentation, Kelemenis & Co. has undertaken to observe all formalities arising from SOLVENCY II with the Bank of Greece, the supervising authority of the Greek insurance market. The Solvency II Directive is the EU Directive that codifies and harmonises the EU insurance regulation.