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Macedonia's Triglav Osiguruvanje 9-mo after-tax profit rises

Author Mario Tanev
Macedonia's Triglav Osiguruvanje 9-mo after-tax profit rises Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SKOPJE (Macedonia), November 6 (SeeNews) - Macedonian non-life insurer Triglav Osiguruvanje [MSE:VROS] said on Monday its after-tax profit rose to 73.4 million denars ($1.4 million/1.2 million euro) in the first nine months of the year from 59.2 million denars in the same period last year.

The insurer’s operating revenue for January-September edged down to 904 million denars from 907 million denars in the comparable period of 2016, Triglav Osiguruvanje said in a bourse filing.

Triglav Osiguruvanje’s operating expenses fell to 830.6 million denars in the review period from 847.8 million denars in the corresponding period of last year.

Triglav Osiguruvanje is part of Slovenian insurance group Triglav.

Last month, Triglav said it would enter the life insurance market in Macedonia in early November, by establishing a new company, Triglav Osiguruvanje Zivot.

On the non-life segment in Macedonia, Triglav competes with Vienna Insurance Group's units Osiguruvanje Makedonija and Winner, Sava Osiguruvanje, Euroins, Eurolink, Insig, Uniqa, Insurance Policy, Albsig, and Croatia Insurance.

(1 euro=61.45 denars)