Interamerican says pre-tax profits up 57.8 pct in H1

Interamerican said its operating pre-tax profits jumped 57.8 pct to 10.1 million euros in the first half of 2017, from 6.54 million in the same period last year, while pre-tax earnings totaled 15.5 million euros.

In an announcement, the company attributed the rise in operating earnings to higher premium production, which totaled 177.2 million euros from 167.3 million in 2016.

Interamerican said the Solvency II rate was 169 pct for the life insurance company and 202 pct for the general insurance company. Equity capital was 212.5 million euros at the end of June.

Premium production was 40 million euros in the life insurance business, up 23 pct from 2016, the health insurance business grew 4.8 pct to 43.3 million and the general insurance business grew 0.4 pct to 93.9 million euros in the first half of 2017.