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Profit of CESKA Pojisovna grew by 67 percent, to EUR 135,6 million

The half-yearly financial results of CESKA Pojistovna reached one of the highest values in the history - EUR 135,6 million - when the year-on-year profit grew by 67 percent, compared with the EUR 81,3 million in the last year.

In the first half-year of 2009, the total written premiums reached EUR 774 million, representing a slight decline compared with the previous year. In the non-life sector, the significant reason for this decline is the decrease of the financial risks insurance, due to the economic crisis. This insurance is considered by CESKA Pojistovna as very risky and the company intends to quit this area. In the non-life insurance, the total of written premiums was EUR 503 million, in the life insurance - EUR 271 million. The most successful categories in the first half-year were the insurance of major risks -with 9% increase, personal liability insurance - that grew year-on-year by 8 percent, and the insurance of pets - up by 96 percent.

CESKA Pojistovna's shareholders equity, as at June 30, 2009, grew, compared with the same period of the previous year, by nearly EUR 271 million, to EUR 825 million. Total assets as at the same date exceeded EUR 4,9 billion and gross technical provisions were EUR 3,6 billion.

Author: Vlad BOLDIJAR on 29.10.2009

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