Montenegrin insurer Lovcen Osiguranje Q1 net profit jumps to 1.06 mln euro

Operating revenue increased to 8.1 million euro in January-March period from 7.3 million euro in the first three months of 2023, with premium income going up to 8.0 million euro from 7.2 million euro, Lovcen Osiguranje said in a statement with the Montenegrin bourse on Monday.

Operating expenses also rose, to 5.1 million euro in the first quarter of the current year from 4.9 million euro in like period of last year. As a result, gross operating profit climbed up to 3.0 million euro from 2.4 million euro in the period under review.

Lovcen's shares last traded on April 26, going up 4.17% to close at 10 euro.

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

($ = 0.933 euro)