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Third-Largest Insurer to Cover Part of 2001 Loss

Maribor, 27 August - Shareholders of Slovenia's third-largest insurance company, Zavarovalnica Maribor, decided at Tuesday's general assembly to cover part of last years losses of SIT 5.61bn (EUR 24.7m). The insurer will thus use its reserves of SIT 47m (EUR 210,000), as well as SIT 1.3m (EUR 5,700) of profit from previous years, leaving the company with a balance sheet loss of SIT 5.56bn (EUR 24.4m), which the company attributes to the necessity to raise its reservations as set down by new legislation.

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