February 23 (SeeNews) - Croatia's top insurer Croatia Osiguranje [ZSE:CROS, CROS2], a subsidiary of diversified holding company Adris, said on Thursday it achieved a consolidated profit after tax and non-controlling interest of 378.1 million kuna ($53 million/50 million euro) last year, an increase of 4.3% compared to 2021.
Gross written premium for the reporting period amounted to 3.721 billion kuna, which represents an increase of 8.3% compared to the previous year, it said in its consolidated unaudited report to the Zagreb bourse.
Along with Croatia, the Croatia Osiguranje group is operating in Bosnia and Herzegovina, North Macedonia, Serbia and Slovenia.
Gross written premium of non-life insurance rose 14.5% on the year to 3.316 billion kuna. Gross written premium of life insurance decreased by 25.1% to 405.2 million kuna. Earned premium for the reporting period amounted to 3.251 billion kuna, equal to 80.3%of total income and an increase of 5.2% compared to 2021.
In a separate press release, Adris said that on the local insurance market, which rose 7% last year, Croatia Osigurnaje strengthened its leading position with a 25.6% market share. Its market share in non-life insurance edged up almost one percentage point on the year to 30.50% in 2022. Gross written premiums in Croatia rose 6.5% to 3 billion kuna last year.
The blue-chip preferred shares of Adris [ZSE:ADRS2] traded 2.33% higher at 52.50 euro intraday on Thursday on the Zagreb bourse, while the ordinary shares of Croatia Osiguranje rose 1.82% to 840 euro intraday on Thursday on the Zagreb bourse.
($ = 0.942 euro)
Croatia Osiguranje d.d. is among the biggest insurers in SEE. You can download our SEE Top 100 ranking here
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