September 2 (SeeNews) - Kosovo's insurance companies posted a combined net loss of 11.5 million euro ($12.8 million) for the first seven months of the year, compared to a net loss of 2.5 million euro in the same period last year, data from the country's central bank indicated.
Kosovo insurers' gross written premiums edged up 2.7% on the year to 41.1 million euro in January-July, the data showed.
Gross written premiums from non-life insurance increased 2.05% to 39.7 million euro, while life insurance premiums stood flat at 1.4 million euro.
The total gross claims paid fell 6.7% to 18.2 million euro.
The assets held by Kosovo insurance companies rose 8.2% year-on-year to 163.6 million euro at the end of July.
Return on assets (ROA) stood at minus 14.6% versus minus 3.6% a year earlier, whereas return on equity (ROE) worsened to a negative 48.9% from a negative 10.2% a year ago.
($=0.8963 euro)