How the Fund is managed

The Assembly of its Members is the supreme authority of the Fund and decides by absolute majority. Decisions are binding also for members who are absent or disagree. A meeting of the Members Assembly is considered valid if at least 3 / 5 of the total votes of the members are present. If this is not achieved, the meeting automatically reconvenes a week later with only 2 / 5 of the total votes of the members required to be present.

Each member is entitled to one vote for every 1,000,000€ of its registered life production premiums (premiums written and contract rights) of the previous year (the result rounded to the nearest whole number). Members with an annual life insurance premium production below the above mentioned amount receive one vote regardless of the production.

Management of the Fund is exercised by its Management Committee, which has the obligation to take all measures necessary to fulfill its purpose. The Management Committee consists of five members serving for a three year period. The Chairman of the Committee is appointed by Bank of Greece while the other four members are elected by the Members Assembly.