Serbia's Dunav Osiguranje net profit up 51% in 2023

The insurer's premium income rose to 30.95 billion dinars last year from 27.89 billion dinars in 2022, Dunav Osiguranje said in a filing with the Belgrade Stock Exchange on Tuesday.

The premium income from life insurance came in at 4.2 billion dinars, up from 3.9 billion dinars, while non-life insurance premium income grew to 36 billion dinars from 31.3 billion dinars in the period under review.

Operating costs also rose - to 22.68 billion dinars in 2023 from 20.46 billion dinars a year earlier, the statement read.

Dunav Osiguranje is a blue-chip heavyweight on the Belgrade bourse. Its shares closed flat at 980 dinars on Tuesday and did not trade by 10:00 CET on Wednesday.

The Serbian government controls a direct stake of 76.7% in the insurer, while the remainder belongs to smaller shareholders, data from the country's central securities depository showed.

Last month, Dunav Osiguranje said it will pay a gross dividend of 51.64 dinars per share from its 2023 profit, distributing a total of 784.4 million dinars to its shareholders.

(1 euro = 117.152 dinars)