Solidaria sees profits up to US$5mn

Colombian insurer Aseguradora Solidaria posted a net profit of 14bn pesos (US$5mn) at the end of September this year, up 91.5% compared to the same time last year, the insurer said in a statement. The insurer's technical results reached 11bn pesos at end-September with an overall claims index (premium income to claim payments) standing at 52.7%, Solidaria's chairman Carlos Arturo Guzman Pelaez was quoted as saying. Premiums rose to 104bn pesos at end-3Q03, up 27% compared to 81.6bn pesos at end-September last year with the insurer targeting premiums totalling 140bn pesos by year-end. Solidaria also sells three insurance products through its controller, local bank Megabanco. Solidaria has a network of 22 branches across Colombia.