Insurers increased their profits in 2020

Allianz-SP, Slovakia’s largest insurer, improved its net profit 8% to €92.5m last year thanks to lower indemnification during the pandemic. Its premiums were up 1% to €652.5m, of which non-life policies accounted for €416.5m. This year, it expects growth in premiums and stable profits. (webnoviny.sk) Its major competitor, Kooperativa, posted a 6% increase in net profit to €38.6m, and its sales were down 3% to €610.1m in 2020.