BoG muzzles International Life’s board
The Bank of Greece has removed the executive powers of International Life’s governing board, conceding the insurance company’s full control to insurance administrator Ioannis Peristeris.
By the same token, the central bank is extending the ban on the undertaking of any new activity by the insurer, while October 31 remains the deadline to find another insurance company to take over International Life’s portfolio.
The transfer efforts are focused on the car insurance policies in order to minimize the impact on the company’s clients.
