Prime Insurance - POSIDONAS

## 🏢 Company Overview & History * Prime Insurance began in **1999** under the name **Interlife**, expanding in **2011** through a merger with Demco Insurance in Greece and being renamed **Prime Insurance** ([primeinsurance.eu][1]). * On **July 16, 2025**, Prime Insurance officially joined the **Austrian GRAWE Group** (Grazer Wechselseitige Versicherung AG), strengthening its financial stability, international backing, and product development potential ([primeinsurance.eu][2]). --- ## 🌍 Vision, Values & Operations * **Vision**: To remain the most trusted insurer in Cyprus and Greece, offering comprehensive solutions across Life and General Insurance sectors ([primeinsurance.eu][3]). * **Values**: Emphasizes experience, innovation, customer focus, efficiency, teamwork, and dedication to its insurance agents ([primeinsurance.eu][3]). * **Operations in Cyprus**: Recognized as the largest composite insurer in Cyprus, with full-service offerings in life, health, and general insurance, backed by an experienced sales network and multiple branches island-wide ([primeinsurance.eu][4]). * **Operations in Greece**: Active in Property, Liability, and Health insurance, working to expand its presence through a growing sales force in Greece ([primeinsurance.eu][4]). --- ## 📍 Locations & Contact Information **Head Office** * Address: 55 Digeni Akrita & 1 Olympias, 1070 Nicosia, Cyprus * Phone: +357 22 896 000 * Fax: +357 22 896 001 * Email: [info@primeinsurance.eu](mailto:info@primeinsurance.eu) ([primeinsurance.eu][5]) **Regional Branches** * **Nicosia (Alexandrio)**: Dighenis Akritas Ave 23, Office 201 * **Limassol**: Omonia Ave & Thalias Str, 1st floor * **Larnaca**: Spyros Kyprianou Ave, office 101 * **Paphos**: Nikou Kazantzaki 1, 2nd floor * **Paralimni (Famagusta)**: 79 Stadiou Ave, Paralimni ([Cyprus Insurance][6]) --- ## 🧰 Service Lines & Customer Support **Insurance Products** * Offers **life insurance**, **health insurance**, and **general insurance** with a human-oriented approach focused on product quality and administration excellence ([Cyprus Insurance][6]). **24/7 Support Services** (available to Medisyn Health Plan clients) * **Health Line**: Medical guidance at 8000 50 50 * **Road Assistance Line**: 8000 40 40 for accident and roadside support ([primeinsurance.eu][7]) **Customer Service Desk** * Phone: +357 22 896 000 * Hours: Monday–Friday, typically 08:30–13:30 and Tue/Thu afternoons until 17:00 * Contact: [info@primeinsurance.eu](mailto:info@primeinsurance.eu) ([primeinsurance.eu][7]) --- ## 🧾 Complaint Procedure * Clients may submit **formal complaints** regarding contract issues, service quality, or response delays. * Complaints accepted via phone, fax, email, contact form, or postal mail to the Nicosia office. * Complaints are acknowledged in writing, investigated within a stated timeframe, and escalated if needed. * If unresolved, clients can approach the **Insurance Companies’ Control Service (Ministry of Finance)** or the **Financial Ombudsman** in Cyprus ([primeinsurance.eu][8]). --- ## 📉 Financial Health & Regulatory Developments * Between **2017–2018**, Prime Insurance faced capital pressure: posted losses (€324K in 2017; €5.6M in 2018) and had solvency coverage around 91%, rising to 100% in early 2019 after capital injections and restructuring ([In Cyprus][9]). * A recovery plan with the Insurance Commissioner aimed to raise coverage beyond 115% by September 2019. Since joining GRAWE in **July 2025**, its financial credibility and solvency are further strengthened ([In Cyprus][9]). --- ## ✅ Summary Table | Category | Details | | ----------------------- | ---------------------------------------------------------------------------- | | **Founded** | 1999 (as Interlife), merged/renamed in 2011 | | **Acquisition** | Acquired by **GRAWE Group** on **16 July 2025** | | **Headquarters** | Nicosia, Cyprus | | **Branch Network** | Nicosia (incl. Alexandrio), Limassol, Larnaca, Paphos, Famagusta | | **Product Lines** | Life, Health (Medisyn), Motor, Property, Liability, Personal Accident | | **24/7 Services** | Health Line, Road Assistance | | **Customer Care Hours** | Mon–Fri, 08:30–13:30; Tue/Thu afternoons | | **Complaints Access** | Via email, fax, phone, online form; escalate to regulator or ombudsman | | **Financial Recovery** | Losses in 2017–18; restructuring improved solvency; GRAWE backing since 2025 |