Baltic, Financial Services, Insurance
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Monday, 24.03.2025, 17:42
If P&C Insurance increased profits in the Baltic States by nearly a third in Q1
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The consolidated profits include the results achieved by the parent company operating in Estonia and the subsidiaries in Latvia and Lithuania.
The profits earned in Estonia amounted to 153 million kroons – by 7% more than the profits earned during the same period of time last year.
In the year-on-year comparison, If’s profits in the Baltic States grew by 30% in the first half of 2009.
“If’s profits results are good for a number of reasons: we work on internal cost-efficiency, maintain a high level in choosing risks and the result of investments was very good,” said Andris Morozovs, the CEO of If P&C Insurance AS.
The company collected a total of 1,067 million kroons in insurance payments on the Baltic market – 19% less than during the first half of 2008.
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