SOGAZ boosts RAS net profit 70% to 28.3 bln rubles in 9M
MOSCOW. Oct 31 (Interfax) - Russian insurance group Sogaz posted a net profit of 28.25 billion rubles in the first nine months of 2016, 70% more than the net profit of 16.85 billion rubles in the same period last year, Sogaz said in its RAS earnings report.
Premium income increased 19% in 9M year-on-year to 130.7 billion rubles, while benefits paid rose 20% to 51.1 billion rubles.
Acquisition costs dropped by 1.2 billion rubles, to 7.0 billion rubles in 9M 2016 from 8.2 billion rubles in 9M 2015, while administrative expenses increased nearly 6% to 3.6 billion rubles.
Sogaz assets totaled 250 billion rubles as of September 30, 2016, up from 205.6 billion rubles as of the end of 2015. Insurance reserves rose 21% to 156.3 billion rubles.
Charter capital totaled 25 billion rubles as of the end of September.