Financial result
The Company Adriatic Slovenica performed well, ending 2017 with a net profit of EUR 11.4 million and net return on equity of 11.9%.
Detailed financial statements show that the Company achieved positive results in all insurance segments. The net operating result in the amount of EUR 11.4 million consists of positive results in life insurance (EUR 2.1 million), non-life insurance (EUR 6.7 million) and health insurance in the amount of EUR 2.6 million. The following factors had an impact on the decreased net profit in 2017 when compared to previous years: lower result from investing activities (excluding the effect of unit-linked life insurance), excess of expenses over revenue, a negative technical result in non-life insurance and higher tax liabilities.
Financial position
As at 31 December 2017, total assets of the Company stood at EUR 758 million, representing a 3.4% increase compared to the previous year. The increase resulted from growth in unit-linked insurance assets. The bulk of assets at the year-end was accounted for by life insurance assets (64.4%), 34.6% of the assets was used for the activities of non-life insurance and the rest for the implementation of health insurance activities.