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Serbian insurer Dunav Osiguranje's H1 profit falls - table

Aug 30, 2017, 5:17:20 PMArticle by Radomir Ralev
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August 30 (SeeNews) - Serbian state-owned insurer Dunav Osiguranje [BEL:DNOS] said its profit fell to 53.2 million dinars ($532,574/446,898 euro) in the first half of 2017 from 839.9 million dinars in the like period of 2016.

Serbian insurer Dunav Osiguranje's H1 profit falls - table
Dunav Osiguranje logo

The insurer's premium income rose 5.9% on the year to 10.7 billion dinars in the first half of 2017.

Pre-tax profit fell to 62.5 million dinars in January-June, down 92.8%, while operating income grew by 6.4% to 11.7 billion dinars, Dunav Osiguranje said in a bourse filing on Tuesday.

First-half premium income from life insurance came in at 725.6 million dinars, up 4.6% year-on-year, and non-life insurance premium income rose 6.4% to 13.2 billion dinars.

Operating costs grew by 16.7% to 7.7 billion dinars, Dunav Osiguranje's balance sheet for the first half of 2017 showed.

Following are details on Dunav Osiguranje 's performance (in millions of dinars unless otherwise stated):

H1'17 H1'16
Operating costs 11.700 bln 11.023 bln
Non-life insurance premium income 13.239 bln 12.374 bln
Life insurance premium income 725.598 693.436
Pre-tax profit 62.536 863.948
Net profit 53.169 839.926

The Serbian state controlled 94.09% of the capital of Dunav Osiguranje at the end of June.

(1 euro = 119.043 dinars)

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