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Lovcen Insurance AD (Montenegro)

Main Activities: Insurance Carriers and Related Activities | Direct Life, Health, and Medical Insurance Carriers
Secondary Activities: Other Insurance Related Activities
Full name: Lovcen Insurance AD Podgorica Profile Updated: October 29, 2024
Buy our report for this company USD 29.95 Most recent financial data: 2023 Available in: English Download a sample report

Lovcen Osiguranje AD was established in 1978 as the first general insurer in Montenegro. It initially operated under the name Lovcen Titograd but was renamed to Lovcen Osiguranje AD in 1997.In August 2000, Slovenia's largest insurance company Zavarovalnica Triglav acquired a 27.43% in Lovcen Osiguranje through a DEM 5.0 million capital hike.After another capital increase in 2003, the Slovenian insurer upped its stake to 30% and later further expanded its stake to over 90% by purchases on the bourse.Lovcen Osiguranje AD, which is based in the capital Podgorica, operates six branch offices in the small Adriatic republic.The insurer also operates two subsidiaries, Lovcen Auto d.o.o., specialized in vehicle insurance, and Lovcen Zivotna Osiguranja, specialized in life insurance.

Headquarters
13A Slobode Str.
Podgorica; Podgorica; Postal Code: 81000

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Website: http://www.lo.co.me

Basic Information
Total Employees:
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Outstanding Shares:
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Financial Auditors:
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Incorporation Date:
1978
Key Executives
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President
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Chief Executive Officer
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Vice Chairman
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Director/Member of the Board
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Director/Member of the Board
Ownership Details
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99.07%
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0.48%
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0.11%
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0.1%
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0.07%
Subsidiaries
Lovcen Auto Doo Podgorica
Lovcen Zivotna Osiguranja Ad Podgorica
Company Performance
Financial values in the chart are available after Lovcen Insurance AD report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency EUR. Absolute financial data is included in the purchased report.
Net insurance premium revenue
11.37%
Operating profit (EBIT)
37.94%
Net Profit (Loss) for the Period
76.14%
Total assets
13.18%
Investments
139.14%
Receivables
19.94%
Total equity
28.86%
Net Premiums Earned Trend
3.15%
Net Profit Trend
61.23%
Return on Equity (ROE)
2.38%
Loss Ratio
1.23%
Underwriting Expenses Ratio
-1.53%

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