Oil, marine business boost insurer's premiums

Posted On: Mar. 7, 2019 5:27 AM CST

Brazil-based insurer Austral Seguradora S.A.'s premiums grew 31% year over year to 422 million Brazilian real ($110 million) in 2018 driven by oil and gas and marine business, Segs.com reported. The insurer's marine risk segment grew 92% while the oil risk segment increased 65%. Net income totaled more than BRL 22 million.