March 2 (SeeNews) - The Bosnian subsidiary of Croatian insurer Croatia Osiguranje said on Tuesday it closed 2020 with a net profit of 486,000 marka ($299,000/249,000 euro), compared with a profit of 190,910 marka in 2019.
The company's earned premiums dropped 12% on the year to 37 million marka in 2020, Mostar-based Croatia Osiguranje said in a filing sent to the Sarajevo Stock Exchange.
Net expenses for insurance cases fell 3.8% on the year to 23.8 million marka in 2020, while net operating costs decreased 17% to 15.4 million marka.
Zagreb-based Croatia Osiguranje controls a stake of 95% in its Bosnian subsidiary.
(1 euro = 1.95583 marka)