Business News

Insurer Generali Half-Year Profit Up 34.2% to EUR 2.1m

Ljubljana, 27 September (STA) - Zavarovalnica Generali, the Slovenian branch of the Italian insurer, reported a 34.2% year-on-year increase in net profit for the first six months to EUR 2.1m on Thursday. Premiums were up 0.7% to EUR 45.8m and the insurer increased its market share to 4.6%.

The biggest growth was recorded in life insurance, which rose by 8.1% year-on-year, with CEO Gregor Pilgram pointing out that this was despite opposite trends on the market.

Property insurance premiums saw a 1% drop, which roughly corresponds to the average contraction on the market.

"Slovenia is among the more developed insurance markets, but we are also affected by deteriorating purchasing power and the resulting drop in the number of new vehicles sold," Pilgram said.

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