Eurooppalainen was established on 15 February 1922, but the Finnish Council of State had already granted Eurooppalainen licence to sell luggage insurance. The first luggage insurance policy to was sold to clothing trader Kalle Kuusinen and the second to General Carl Gustav Mannerheim who later became Finland’s President.
European as the name suggests
Eurooppalainen was established in a boom that started in Hungary. This is where Baron Max von Engel established the first European insurance company to insure railway travel luggage. The same principle was applied to establish a total of 22 "European" insurance companies. Capital was in most cases raised by Munich Re from Germany, also the first owner of Finland's Eurooppalainen.
Subsidiary of Pohjola in 1970
Munich Re sold Eurooppalainen to its Swedish counterpart Europeiska, from which it was bought back to Finland by Pohjola and Fennia in equal proportions. In 1970, Pohjola bought out Fennia and made Eurooppalainen a Pohjola subsidiary. Since 2005, Eurooppalainen has been part of the strong OP Financial Group.
Unique service network still in operation
Cooperation between the subsidiaries has been very good right from the beginning. "European" companies have come and gone as wars have disrupted business, but cooperation has been good throughout. As a result, Eurooppalainen's customers still get excellent coverage provided by the unique service network around the world.
Eurooppalainen is successful and has remained at the pinnacle of development throughout the decades, rising to a Finnish market leader in travel insurance with a share of almost 50 of the market. It is one of the best-known brands in the travel sector. Eurooppalainen insured some 700,000 people, and its profitability is good. It relies on high quality of services and the excellent international service network.