Pan-European insurance and asset management specialist Eureko has agreed to buy a controlling stake in Interamerican Hellenic Life Assurance, a market leader in the Greek life assurance market place.

Eureko has agreed to buy a 54.4% stake in Interamerican held by founder Dimitrios Contominas and related parties for €977m ($834m), taking its stake to 79.4%. It agreed to pay a 22% premium to Interamerican's share price prior to the bid, and will be required to make a public bid for remaining 20.6% at the equivalent of €20.74 per share.