Business News

Adriatic Slovenica Clears EUR 300m Premium Mark in 2013

Nova Gorica, 19 May (STA) - Insurer Adriatic Slovenica collected EUR 306m in gross written premiums in 2013, clearing for the first time the EUR 300m mark, the company said on Monday. It paid out EUR 218m in damages.

Speaking to the press, Adriatic chairman Gabrijel Škof noted that positive trends were continuing this year, with the insurer collecting EUR 77m worth of premiums in the first three months of the year against EUR 50m in damages.

"Adriatic Slovenica was not hurt by the ice storm in early February, it paid out a total of only EUR 800,000 in damages. We believe we will achieve the goals we set for 2014," he added.

Adriatic is Slovenia's second biggest insurer with a 15.2% market share. Apart from property insurances, it generates revenue from health insurance (37%) and life insurance (18%).

The insurer introduced several new products, including a car insurance web portal, which led to a 50% increase in insurance policies in the first three months of 2014 compared to the same period last year.

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