ATLANTIC was founded in 1983 by the late Zenios Pyrishis and a small group of ambitious insurers who shared his vision and business philosophy.This philosophy was based on the premise that the client sets the requirements and the company delivers in accordance to them, in the most direct and personal manner possible. Even though many things have changed in ATLANTIC since then, one thing has remained abiding: the client always comes first in everything we do.
ATLANTIC was quick to establish itself as a business success and a market leader. This success culminated in the company's listing on the Cyprus Stock Exchange in October 2000. This was a defining moment in the company’s evolving journey, giving it a new expansive impetus by making available the necessary funds to implement its strategic plans.
Having achieved repetitive high growth rates which bolstered its solid financial position, in 2003 ATLANTIC’s Headquarters moved into its privately-owned brand-new premises at the heart of the Nicosia’s business center. Now ATLANTIC boasts a presence in all cities of the island with its own offices.
Another important milestone in our company’s phenomenal journey and a tangible expression of the confidence and trust it inspired among the business community, was the decision of Bank of Piraeus Cyprus Ltd (now AstroBank) in 2009 to become a 20% shareholder of ATLANTIC. Since then, thousands of AstroBank's clients have enjoyed the protection afforded by our diverse range of insurance policies.
Financially robust, highly experienced, competent and eminently reputable among clients and business partners, ATLANTIC is today stronger than ever before, proudly holding a place among the biggest general insurance firms on the island. It is worth noting that the company has emerged unscathed from all economic crises that have plagued European economies in recent years. It has succeeded in sustaining its high level of business activities, as well as maintaining a very good level of profitability.
All insurance companies operating within the EU are required by law to hold a minimum level of capital in order to assert a company’s strong financial position and ability to continue operations into the foreseeable future. This capital adequacy is measured by what is called the “Solvency ratio II”. It is important to note that ATLANTIC's Solvency Ratio II stood at 218% on 31/12/2021, well above the minimum requirement of 100%. This ranks our company among the insurance providers with the highest capital adequacy in Cyprus.