Helvetia Patria sees p/c premium income growth

BONN - Swiss insurer Helvetia Patria is showing signs of further growth in property and casualty premium income for 1999, but said yesterday there is overall pressure on premium levels. Claims experience continues to be favourable, it added. In 1998, the group achieved gross premium income of Sfr4.03bn, up 7.0% from Sfr3.77bn in 1997. Investment income rose 11.6% to Sfr1.24bn, up from Sfr1.11bn. The profit before tax amounted to Sfr152m, a 28.3% rise on the Sfr119m of 1997. After tax and minority interests, the profit rose by 38.9% from Sfr46m to Sfr63m. Helvetia Patria wrote Sfr1.85bn of its income in property and casualty, up 5.7%.