The net profit of insurance companies in the Republika Srpska last year amounted to 30,369,942 KM, according to the report of the Insurance Agency of Srpska, osiguranje.hr writes.

The report is to be presented at the session of the National Assembly of the Republika Srpska on October 29.

The total income of insurance companies last year amounted to 339.52 million KM and was 7.9% higher than in 2022. Total expenses amounted to 306.14 million KM and were 8.9% higher y-o-y.

The share of insurance premiums in GDP last year was approximately at the same level as in other neighboring countries with a similar level of insurance market development, the report says.

Total premiums on the insurance market of the Republika Srpska last year was 320.47 million KM, which was 15.8% higher y-o-y. The calculated premium of insurance companies from the Republika Srpska was 16% higher, while the calculated premium of branches of insurance companies from the Federation of Bosnia and Herzegovina was 14.9% higher than in 2022.

Of the calculated premium on the insurance market of the Republika Srpska last year, non-life insurance accounted for 263.7 million KM or 82.3%, while life insurance amounted to 56.76 million KM or 17.7%, the source reports.