SARAJEVO (Bosnia and Herzegovina), May 8 (SeeNews) – The net profit of Bosnian insurer Sarajevo Osiguranje increased to 258,546 marka ($157,461/132,193 euro) in 2017, from 55,032 marka a year earlier, the company said.
Sarajevo Osiguranje's gross written premiums rose 1.8% to 56.2 million marka last year, while its operating costs dropped to 22.7 million marka from 24.3 million marka, the insurance company said in a filing with the Sarajevo Stock Exchange on Monday.
The government of Bosnia's Federation owns 45.5% of Sarajevo Osiguranje, while the remainder is in the hands of investment funds and banks. In March, the entity's government said it had decided to dispose of its entire stake in Sarajevo Osiguranje via direct negotiations following five failed sale attempts.
The Federation is one of the two autonomous entities that make up Bosnia and Herzegovina. The other one is the Serb Republic.
(1 euro=1.95583 Bosnian marka)