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Adriatic Slovenica Sees Profit Surge

Nova Gorica, 12 April (STA) - Insurer Adriatic Slovenica posted gross written premiums of EUR 265.6m for 2011, up from 261.2m a year before, while net profit rose to EUR 17.7m from EUR 10.5m in 2010, the company said on Thursday.

The insurer's market share rose slightly, to 12.68% from 12.4% the year before, cementing its position as the no.2 insurer in Slovenia behind Zavarovalnica Triglav.

"We've achieved the goals and generated appropriate profit," Adriatic Slovenica chairman Gabrijel Škof told the press in Nova Gorica.

Property insurance accounted for the bulk of gross premiums (EUR 152.4m), followed by health insurance (EUR 100m) and life insurance (EUR 12.6m).