The share price fall has surprised many as profits were up E21 million on Q2 2005 and were higher than a Reuters poll of industry analysts. However, they were lower than in the first quarter of 2006.
Highlights included a 7% increase in the loan and guarantee portfolio of the company’s banking and investment services for the April-June period, while premiums written in non-life insurance increased by 8%.
Meanwhile, overall net income from insurance premiums increased from E74 million to E163 million.
