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Bosnia's Sarajevo Osiguranje doubles H1 net profit

Bosnia's Sarajevo Osiguranje doubles H1 net profit Ken Teegardin/CC BY-SA 2.0

SARAJEVO (Bosnia and Herzegovina), September 5 (SeeNews) – Bosnian insurer Sarajevo Osiguranje [SAJ:SOSOR] said its first-half net profit rose to 1.4 million marka ($771,931/698,209 euro), from 650,823 marka in the comparable period of last year.

Sarajevo Osiguranje's gross written premiums rose 15.1% uear-on-year to 36.5 million marka in the first six months, while its operating costs grew to 12.8 million marka from 12.2 million marka, the insurance company said in a filing with the Sarajevo Stock Exchange (SASE) on Wednesday.

The company's total assets amounted to 122.5 million marka in the first half of the year, compared to 115.3 million marka at end-2018.

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. 

The Federation is one of two autonomous entities that make up Bosnia and Herzegovina. The other one is the Serb Republic.

(1 euro = 1.95583 marka)