February 28 (SeeNews) - Macedonian non-life insurer Osiguruvanje Makedonija [MSE:KJUBI], a subsidiary of Vienna Insurance Group (VIG), said on Tuesday its after-tax profit for 2016 declined 44% to 134.1 million denars ($2.3 million/2.2 million euro).
The insurer's total revenue fell by 12% to 888.1 million denars in 2016, according to its financial report filed with the Skopje bourse.
Osiguruvanje Makedonija's net premium income rose 9% to 600.9 million denars, while investment income jumped 74% to 151 million denars.
The insurer's costs edged down 0.5% to 738.5 million denars.
Osiguruvanje Makedonija, set up as a state insurer in 1945, became part of VIG in 2013. VIG owns a 94.25% stake in the company. The Austrian group is also present on the Macedonian insurance market through Winner Osiguruvanje.
(1 euro = 61.5339 denars)
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