Croatia's Adriatic Osiguranje Jan-Sept cons net profit up 20% y/y

Consolidated gross written premiums increased by an annual 32% to 713 million kuna in January-September, with premiums from compulsory third party motor liability insurance rising 50% to 415 million kuna, Adriatic Osiguranje said in a statement with the Zagreb bourse last week.

Total revenue of the group rose 14% to 651 million kuna in the period under review, while total expenditures increased 13.7% to 574 million kuna.

The group includes Adriatic Osiguranje d.d. as a parent company along with its subsidiaries real estate firm Tehnomobil Nekretnine d.o.o. and motor vehicle services provider Autocentar Vrbovec d.o.o..

Adriatic Osiguranje provides non-life insurance only. It was the fifth largest insurer in terms of total premium among 18 active insurers in Croatia at the end of September, according to latest data of the Croatian Insurance Bureau.

Adriatic's shares last traded on the Zagreb bourse on November 3, closing down 1.52% at 3,900 kuna. 

(1 euro = 7.55296 kuna)