March 10 (SeeNews) - Kosovo's insurance companies posted a combined net loss of 23.9 million euro ($25.4 million), more than three times higher than their aggregate net loss of 7.7 million euro in 2015, data from the country's central bank shows.
Kosovo insurers' gross written premiums increased 4.4% to 83.5 million in 2016, according to data posted on the central bank's website.
Gross written premiums from non-life insurance increased 4.7% to 80.9 million euro, while life-insurance premiums dropped 2.7% to 2.6 million euro last year.
Total gross claims paid in 2016 grew 4.9% to 38.6 million euro.
The assets held by Kosovo insurance companies increased 6.2% to 162.1 million euro.
Return on assets (ROA) stood at minus 15.2% at end-2016 versus minus 5.3% a year earlier, whereas return on equity (ROE) worsened to a negative 58.1% from a negative 16% in 2015.
($ = 0.9428 euro)