TIRANA (Albania), November 26 (SeeNews) – Austria's Vienna Insurance Group (VIG) said on Thursday that its pre-tax profit from operations in Albania and Kosovo surged 72% year-on-year to 2.7 million euro ($3.2 million) in the first nine months of 2020.
Total gross written premiums in Albania and Kosovo dropped by 8.6% in annual terms to 29.6 million euro in the period under review, VIG said in an interim financial statement.
Premiums generated on the motor third party liability (MTPL) insurance sub-segment fell 4.3% to 20.3 million euro, whereas Casco premiums decreased 6.8% on the year to 1.6 million euro. Premiums from other property insurance same in at 5.2 million euro in the January-September period, down 27.7% on the year.
VIG's health insurance premiums in Albania and Kosovo increased by 11.1% on the year to 2.5 million euro in the nine months under review.
In both countries, VIG is only active in the non-life insurance segment. In Albania, VIG operates through Sigma Interalbanian and Intersig. In Kosovo, the group operates through Sigma Interalbanian Kosovo.
In Southeast Europe, VIG operates in Romania, Serbia, Moldova, Bulgaria, Albania, Kosovo, North Macedonia, and Bosnia and Herzegovina.
($ = 0.8387 euro)