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Insurer Adriatic Collects More Insurance Premiums, Nevertheless Posts Loss

Ljubljana, 25 April - Despite collecting SIT 22 billion (EUR 97.9 million) of insurance premiums, 22.3 percent more than in 2000, Slovenia's fourth largest insurer Adriatic posted a loss of SIT 88 million (EUR 390,000) last year. According to Adriatic CEO Dusan Novak, the loss is mainly a result of the new legislation on insurance companies, which increased capital adequacy demands and made the rules and methods of calculating reservations much stricter.

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