July 4 (SeeNews) - Kosovo's insurance companies turned to net profit of 500,000 euro ($557,135) from 200,000 euro net loss a year ago, data from the country's central bank indicated.
Kosovo insurers' gross written premiums fell 11.2% on the year to 19 million euro in the first five months of the year, central bank data showed last week.
Gross written premiums from non-life insurance dropped 11.1% year-on-year to 18.4 million euro in the January-May period.
Life insurance premiums edged up by an annual 16.7% to 700,000.
The total gross claims paid increased 10.5% to 9.4 million euro.
The assets held by Kosovo insurance companies rose 10.4% year-on-year to 156.7 million euro by the end of May.
Return on assets (ROA) switched to a positive 1.3% from a negative 0.7% a year ago. Return on equity (ROE) also turned out to a positive 4.1% from a negative 2.1% in May 2015.
($=0.8974 euro)