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Slovenian Branch of Wiener Städtische Turns First Profit

Ljubljana, 19 April (STA) - The Slovenian branch of Austrian insurer Wiener Städtische said 2011 was its first profitable year since its arrival in Slovenia in 2004. Net profit totalled EUR 1.2m, the company said Thursday.

Gross written premiums amounted to EUR 20.9m, up 8% over the year before and far outpacing the 1% growth of the overall market, Tomo Mrđen, a director, told the press today.

Wiener Städtische marginally increased its market share, to 1.1%, but it plans to capture 10% of the market in a decade.

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