SARAJEVO (Bosnia and Herzegovina), July 26 (SeeNews) – The net profit of Bosnian insurer Sarajevo Osiguranje grew to 389,900 marka ($232,800/199,400 euro) in the first half of 2017 from 50,300 marka a year earlier, the company said.
Sarajevo Osiguranje's gross written premiums rose 0.3% to 29.8 million marka in January-June, while its operating costs dropped to 11.0 million marka from 11.4 million marka, the insurance company said in a filing with the Sarajevo Stock Exchange on Tuesday.
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 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)