EE: If Insurance net profit at EUR 16.2mn in 2010 in Baltics.

By bne IntelliNews February 10, 2011
If P&C Insurance recorded total net profit of EUR 16.2mn in 2010 in the Baltic States. The company recorded total of EUR 109mn of Gross Written Premiums (GWP) in 2010 in the Baltic States. Andis Morozovs, chairman of If P&C Insurance, indicated that the company has suffered major claims in 2010, including the fire of Lisco Gloria ferry, where Ifs clients lost more than 50 trucks and trailers. However, the companys results prove that the companys risk assessment and skill to react to changing external conditions were in good shape. In Estonia If P&C Insurance recorded premiums of EUR 59.6mn in 2010, while compensations paid amounted to EUR 29.5mn in 2010.

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