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Eureko H1 profit down

Eureko, an insurer, has reported a net profit at E124 million for the first six months ended June 30, 2008, a decrease of 78% as compared to E561 million in the corresponding period of 2007.

Profit before tax for the period was E94 million, representing a fall of 85% as against E613 million for the comparable period in 2007.

Value of new business declined E5 million to E28 million; strong improvements in the Netherlands were more than offset by declines in Ireland.

For first six months of 2008, the company’s underlying results from operational activities increased 4%. The company noted that total equity declined 10% to E9.4 billion.