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Bosnian insurer Grawe Osiguranje Banja Luka's H1 net profit falls

Bosnian insurer Grawe Osiguranje Banja Luka's H1 net profit falls Ministry of Economy/All rights reserved.

SARAJEVO (Bosnia and Herzegovina), September 6 (SeeNews) – Bosnia's Grawe Osiguranje Banja Luka, a member of Austrian insurance group Grawe, said on Friday its net profit fell to 440,453 marka ($248,829/225,200 euro) in the first half of 2019, from 530,470 marka in the prior-year period.

Total operating income increased to 9.6 million marka in the six-month period ended June 30, from 8.6 million marka a year earlier, Grawe Osiguranje said in a filing with the Banja Luka Stock Exchange (BLSE).

The company's operating costs increased by 12.5% to 11.7 million marka

Grawe Osiguranje Banja Luka's total assets amounted to 114.6 million marka as at end-June, compared to 108.4 million marka at end-2018.

Grawe runs a unit in each of Bosnia two constituent entities, the Federation and the Serb Republic.

GRAWE Osiguranje Banja Luka is based in the Serb Republic, while Grawe Osiguranje Sarajevo is based in the Federation.

(1 euro = 1.95583 marka)

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