August 20 (SeeNews) - North Macedonia-based insurer Triglav Osiguruvanje [MSE:VROS], part of Slovenian insurance group Triglav, said on Tuesday that its net profit plunged to 3.5 million denars ($63,000/57,000 euro) in the first half of 2019 from 31.4 million denars in the same period of 2018, following a decrease in revenue.
Triglav Osiguruvanje booked revenue of 546.1 million denars in the January-June period of 2019, down from 584.6 million denars in the comparable period of 2018, the company said in an interim financial statement.
The insurer's net earned premiums dropped to 475.6 million denars in the review period from 535.6 million denars the year before.
The company's operating expenses fell to 542.6 million denars in the first six months of the year from 553.2 million denars in the like period of 2018, as net claims incurred declined to 283.9 million denars from 310.9 million denars.
(1 euro = 61.56 denars)
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