Aspis Liberty Life Insurance Public Company Ltd. provided earnings guidance for the year 2011. The company said that year will be loss making. The company expected losses will be significantly lower than those of 2010. The drop of investments mostly due to the ongoing financial crisis and the significant losses of the stock markets in Cyprus and Greece; the revaluation in the value of properties; the disproportionate variation of the insurance reserves in relation to the significant decrease in the value of the investment portfolio and the increase in contract acquisitions. This variation is attributable to the increase in certain insurance reserves.