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Dec 06, 2007 15:35 EEST
December 6 (SeeNews) - The Bosnian unit of Austrian insurer UNIQA said on Thursday its net profit in the nine months of this year was some 633,000 marka ($474,000/325,000 euro).
No comparative figures were available.
UNIQA Osiguranje said earlier its first-half net profit in 2007 rose 9.7% to some 554,000 marka.
UNIQA Osiguranje’s total premium income through September increased by 26.67% to 18.435 million marka, the company said in a statement.
Life insurance premiums increased by 36.71% in the nine months of 2007 to 5.475 million marka.
Non-life premium income rose 22.85% to 12.960 million marka. In this segment, property insurance premiums saw the sharpest growth, of 55.77%, the company said.
“We are satisfied with the fact that the market starts to recognise more and more the diversity and quality of the UNIQA offer in the life insurance segment, as well as with the launch of new products in banking insurance,” UNIQA Osiguranje’s marketing manager, Muhamed Hadzic, said in the statement.
The company said earlier that in the Muslim-Croat Federation, where it is based, in the first half of the year it ranked sixth by total premiums collected with an 8.71% market share, and third in the life insurance segment with a 17.06% share. The Federation is one of the two autonomous parts war-divided Bosnia forming two thirds of the country’s population and economy. The other is the Serb Republic. The two regions have separate insurance markets.
UNIQA acquired 94% of the Bosnian insurer from Austrian group Raiffeisen Insurance for an undisclosed price in March 2005.
The first-ranked insurer in the Federation at the end of June was Sarajevo Osiguranje with a 20.11% premiums share, followed by Bosna Sunce (13.33%), Croatia Osiguranje (11.26%), Triglav BH (10.56%) and Euroherc (9.28%).
(1 euro = 1.95583 Bosnian marka)
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