May 22 (SeeNews) - The Vienna Insurance Group (VIG) has recorded a 1.9 million euro ($2.1 million) pre-tax profit from operations in Serbia in the first quarter of 2019, the same as in the like period of last year, according to preliminary figures.
VIG's gross written premiums in Serbia fell 18.4% to 23 million euro, while the combined net ratio declined by 1.8 percentage points to 87.9%, VIG said in a conference call presentation of first-quarter preliminary unaudited results.
The premiums of the motor third party liability (MTPL) insurance sub-segment in Serbia fell 4% to 2.4 million euro, Casco premiums went up 3.8% to 2.7 million euro, and premiums from the Other property sector declined 51.7% to 7.0 million euro.
The group’s gross written premiums from regular life insurance in Serbia increased 12.3% to 7.3 million euro, while single life insurance premiums doubled to 2.0 million euro from 900,000 euro. Premiums from health insurance went up 15.4% to 1.5 million euro.
($ = 0.895251 euro)
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