Business News

Zavarovalnica Maribor's 2012 Profit at EUR 7.7M

Maribor, 14 June (STA) - Zavarovalnica Maribor, Slovenia's third biggest insurer, generated EUR 7.7m in net profit in 2012, while business plans projected EUR 8.25m in net profit. The insurer collected EUR 219.3m in net premiums and paid out EUR 141.2m in net damages.

Much of the profit generated by the company in the first nine months of 2012 was swept away by the November floods that hit the eastern part of the country the most.

In the first three months of 2013 the company generated over EUR 3m in net profit, which is close to the first quarter target.

The insurer plans to finish 2013 with a profit of EUR 16.6m. In case of major paying out of damages, the profit could be EUR 4m lower. Some EUR 53m in net premiums is to be collected.

The company's shareholders met on Friday to decide on distributable profit, voting that EUR 20m remain undistributed.

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