Interamerican strengthens its presence in Cyprus with portfolio acquisition of Gan Direct Insurance

Interamerican Group, part of Achmea, is acquiring the motor & property insurance portfolio of Gan Direct in Cyprus, further expanding its international footprint and strengthening its position in the Cypriot market. With this strategic move, Interamerican, which already has a strong presence in Cyprus through its digital brand Anytime, will reinforce its role as one of the leading insurers in Cyprus. For Gan Direct, it marks the beginning of a new phase of growth, with a stronger focus on specialization and high-value-added insurance services.

Gan Direct Insurance has built a strong reputation as the 1^st direct insurance company in Cyprus, offering its customers simple and direct access to insurance. George Nicolaides, CEO of Gan Direct Insurance, said: “I founded Gan Direct more than 30 years ago with the ambition of making insurance simpler, more accessible and fairer for customers in Cyprus. Today, we are taking an important strategic decision that opens the next chapter for our company. The agreement with Anytime enables us to focus our efforts even more strongly on areas where we believe we can create greater value in the future.”

Yiannis Kantoros, CEO of Interamerican Group, said: “This acquisition marks another important step in our growth strategy and will strengthen our position as a regional player in digital insurance. Anytime’s pioneering approach is reflected in a simple, fast and digital-first model that has transformed the insurance experience. Today, with a presence in three markets of Greece, Cyprus and Romania our digital brand demonstrates its ability to evolve dynamically and respond to the needs of different markets. Gan Direct has built a strong name in the Cypriot market in direct insurance and, with the integration of its non-life portfolio, we will further strengthen our momentum, creating greater value for our customers.”

The acquisition of the portfolio is subject to the approval of the relevant regulatory authorities and the completion of all legal procedures.