Business News

Profit, Premiums Flat at Insurer Adriatic Slovenica

Ljubljana, 29 April (STA) - Adriatic Slovenica, the country's no.2 insurer by gross written premiums, posted a net profit of EUR 10.5m for 2010 on premiums of EUR 261m, the company said Friday. Both figures are flat year-on-year.

"Despite the economic crisis and last year's natural disasters, Adriatic Slovenica was successful," chairman Gabrijel Skof was quoted as saying in a press release.

The insurer has payouts of EUR 184m last year, the biggest damage events being strong winds in Vipava area in March and massive flooding in central and southern Slovenia in September.

Both key business segments, insurance and investment, were profitable, but the insurer booked a loss on supplementary health insurance as cost of health services rose.

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