Montenegrin insurer Lovcen Osiguranje net profit rises 3.3% in 2023

Total operating revenue increased 4.2% to 31.39 million euro last year with premium income going up 9.4% to 30.63 million euro, Lovcen Osiguranje said in a statement with the Montenegrin bourse on Thursday.

Total operating expenses grew 13% to 20.2 million euro in 2023. As a result, gross operating profit declined to 11.2 million euro last year, from 12.3 million euro in 2022, the statement read.

Lovcen's shares last traded on March 7, going up 4.9% to close at 6 euro.

Triglav controls over 99% of Lovcen Osiguranje, according to data from the Montenegro Stock Exchange.

($ = 0.925 euro)