When compared to the previous year, which saw the major impact of the economic downturn and the concomitant dramatic slump in the value of stocks and shares in investment funds, the financial market slightly recovered in 2009, leading us to an investment income of HRK 46,433,076, which is a 30% increase over year earlier. As insolvency spreads across the country in 2009, our activities were especially focused on the collection of receivables. We will be further guided by our prudent investment practices, taking into account all market, foreign exchange and credit risks, with the objective to disperse our portfolio in compliance with all legal restrictions.








Future Challenges

Although 2009 was a year marked by the economic downturn, we managed to keep our premium volume at the same level and to achieve profit. We are financially stable and solvent in spite of the tough circumstances on the domestic market. There are no clear signs yet that the country is emerging out of the crisis, and hence we cannot expect that economic circumstances will take a more favourable course in 2010.

Our goal is to keep enhancing the quality of our business in order to provide our clients with an even better service and to promptly and fully respond to all their requirements in reinsurance. As the deadline for the new Directive is drawing near, our preparatory work is becoming more intense towards responding to all its requirements including interdisciplinary approach, comprehensive risk management and stronger capital base.