SARAJEVO (Bosnia and Herzegovina), August 9 (SeeNews) – The net profit of Bosnian insurer Sarajevo Osiguranje increased to 650,823 marka ($385,523/332,761 euro) in the first half of 2018, from 389,906 marka a year earlier, the company said.
Sarajevo Osiguranje's gross written premiums rose 6.6% to 31.7 million marka in the first six months, while its operating costs increased to 12.2 million marka from 11.0 million marka, the insurance company said in a filing with the Sarajevo Stock Exchange on Wednesday.
The government of Bosnia's Federation entity owns 45.5% of Sarajevo Osiguranje, while the remainder is in the hands of investment funds and banks. In March last year, the entity's government said it had decided to dispose of its entire stake in Sarajevo Osiguranje via direct negotiations following failed attempts to sell the state equity at auctions.
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)