Atlas 2004 profits rise 24% to US$11mn

Bnamericas Published: Tuesday, March 22, 2005
Mexican insurer Seguros Atlas said its profits rose 24% in 2004 thanks to higher premiums and stable claims. Profits totaled 126mn pesos (US$11.3) compared with 102mn pesos the previous year, the company told insurance regulator CNSF. Written premiums increased 18% to 2.5bn pesos, while financial income fell 26% to 97.7mn. The company's technical result increased 33% to 326mn pesos because claims were virtually unchanged at 971mn pesos. Financial investments increased 19% to 2.3bn pesos, while technical reserves rose 2% to 1.6bn pesos.

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