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Allianz Hrvatska 2023 gross profit up 30%

May 8, 2024, 10:28:52 AMArticle by Annie Tsoneva
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May 8 (SeeNews) - The Croatian unit of German insurer Allianz, Allianz Hrvatska, said its gross profit reached a record-high 24.2 million euro ($26 million) last year, an increase of 5.6 million euro compared to 2022, thanks to growing profitability of both non-life and life insurance operations.

Allianz Hrvatska 2023 gross profit up 30%

The company's gross premium income rose 4.4% on the year to 205 million euro in 2023, Allianz Hrvatska said in a press release on Monday.

In the life insurance segment, gross profit surged 76.8%, while gross profit in non-life insurance increased 9.8% last year. The insurer’s branch in neighbouring Slovenia, Allianz Slovenija, reported 47.4% growth of gross premiums.

The solvency rate at the end of 2023 stood at 202%, with a combined ratio of 91.2%.

($= 0.930 euro)

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