SARAJEVO (Bosnia and Herzegovina), April 10 (SeeNews) – The net profit of Bosnian insurer Sarajevo Osiguranje dropped to 55,000 marka ($29,800/28,100 euro) in 2016 from 451,600 marka a year earlier, the company said.
Sarajevo Osiguranje's gross written premiums fell 5.2% to 45.1 million marka last year, while its net operating costs increased to 24.3 million marka from 20.6 million marka, the insurance company said in a filing with the Sarajevo Stock Exchange late on Friday.
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)