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Bosnian insurer ASA Osiguranje boosts H1 net profit

Bosnian insurer ASA Osiguranje boosts H1 net profit Ministry of Economy/All rights reserved.

SARAJEVO (Bosnia and Herzegovina), August 21 (SeeNews) – Bosnian insurer ASA Osiguranje said its net profit rose to 890,824 marka ($505,243/455,471 euro) in the first half of 2019, from 782,492 marka in the like period of last year.

The gross written premiums increased by 17.6% on the year to 16.6 million marka in the first six months of 2019, ASA Osiguranje said in a filing to the Sarajevo Stock Exchange (SASE) on Tuesday. 

In the first half of the year, ASA Osiguranje's operating expenses increased to 5.6 million marka, from 4.6 million marka in the corresponding period of 2018.

ASA Osiguranje is one of the youngest insurance companies in Bosnia. It started operations in October 2007 and is part of ASA Group, which comprises some 20 companies active in consulting, marketing and financial services as well as imports and sale of motor vehicles and auto parts.

In 2015, ASA Osiguranje, based in Bosnia's Federation entity, extended its operations to the other entity, the Serb Republic, where it opened five branch offices. In the Federation, the company runs 7 branch offices.

(1 euro = 1.95583 marka)