Sarajevo-Osiguranje's Financial Indicators Improving, Government Should Withdraw Share Sale Decision

The Supervisory Board and Audit Committee of Sarajevo-Osiguranje held an informational meeting on Monday, where the growing financial indicators of the largest insurance company in Bosnia and Herzegovina were presented, the company confirmed to Patria.

In less than 12 months, the new management of Sarajevo-Osiguranje has managed to further improve the company's operations, which can be a main argument for the Government of the Federation of Bosnia and Herzegovina to abandon the idea of selling about 45 percent of its stake in Sarajevo-Osiguranje.

The Government of the FBiH confirmed a few weeks ago that they want to sell their stake in this insurance company, which has caused a sharp reaction from opposition parties, as well as the public. Sarajevo-Osiguranje pays more in taxes to the federal treasury annually than all other insurance companies in the FBiH combined. Destroying Sarajevo-Osiguranje means destroying the state of Bosnia and Herzegovina, the opposition criticized.

Sarajevo-Osiguranje is the most reputable and largest insurance company in Bosnia and Herzegovina, with a long tradition in business. The company was founded in 1945. The company's assets today are estimated at tens of millions of KM, and the company's annual premiums are worth as much.

An independent appraisal firm may soon announce precise data on the market value of Sarajevo-Osiguranje, and it will certainly not be small.

The Federal Government and Prime Minister Fadil Novalić will soon be asked again to withdraw the Decision on the sale of the Government's stake in Sarajevo-Osiguranje, writes Patria.