National Insurance says profits up 85.9 pct in January-September

National Insurance said its profits soared 85.9 pct in the January-September period with pre-tax earnings totaling 65.7 million euros from 35.4 million in the same period in 2016.

Premium production totaled 449.1 million euros in the nine-month period, up 12.1 pct from the same period in 2016, boosted by the successful distribution of a new life insurance product (production reached 68.2 million euros).

Premium production in the Life insurance sector grew 19.7 pct to 327.9 million euros, from 273.8 million in 2016, while premium production in the general insurance sector totaled 121.1 million euros, down 4.4 pct from 2016. Car insurance premium production grew 4.0 pct to 56.1 million euros.

National Insurance said its bancassurance network recorded a 43.4 pct increase in premium production in the January-September period.

The company said its solvency rate soared to 142 pct at the end of September, form 93 pct in December 31, 2016.