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Macedonia's Triglav Osiguruvanje Jan-Sept net profit, revenue fall

Author Mario Tanev
Macedonia's Triglav Osiguruvanje Jan-Sept net profit, revenue fall Author: Triglav. License: All rights reserved.

SKOPJE (Macedonia), November 12 (SeeNews) - Macedonian non-life insurer Triglav Osiguruvanje [MSE:VROS] said that its net profit fell to 73.4 million denars ($1.3 million/1.2 million euro) in the first nine months of the year from 78.7 million denars in the same period of last year.

The company's revenue declined to 904.0 million denars in the January-September period from 927.3 million denars in the comparable period of 2017, Triglav Osiguruvanje said in an interim financial statement last week.

Triglav Osiguruvanje's net premiums decreased to 822.7 million denars from 853.3 million denars the year before.

The insurer's operating expenses fell to 830.6 million denars in the review period from 848.6 million denars a year earlier.

Triglav Osiguruvanje is part of Slovenian insurance group Triglav.

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

(1 euro=61.52 denars)