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Kosovo insurers' net profit declines 15.4% y/y in Q1

Kosovo insurers' net profit declines 15.4% y/y in Q1 wrangler/Shutterstock.com

PRISTINA (Kosovo), May 3 (SeeNews) - Kosovo's insurance companies posted a combined net profit of 1.1 million euro ($1.2 million) in the first quarter of the year, compared to a net profit of 1.3 million euro in the like period of 2016, according to data from the country's central bank.

Kosovo insurers' gross written premiums from non-life insurance ticked up 0.16% year-on-year in the three months through March, figures posted on the central bank's website show.

Gross claims paid in the first quarter totalled 11.2 million euro, up from 11 million euro in the first quarter of 2016.

The assets held by Kosovo insurance companies grew by 3.4% year-on-year to 162 million euro.

The figures do not include data about Kosovo's life insurance sector, which is highly underdeveloped.

($ = 0.9165 euro)

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