March 3 (SeeNews) - North Macedonia's Osiguruvanje Makedonija - Vienna Insurance Group (VIG) said that its net profit decreased to 40 million denars ($689,299/649,078 euro) in 2022, from 55 million denars booked a year earlier.
Osiguruvanje Makedonija's revenue added 8% year-on-year, reaching 887 million denars in 2022, but expenses increased 10.9% to 840.2 million denars, the company said in an annual financial statement filed with the Skopje bourse earlier this week.
The insurer booked net earned premiums of 569.7 million denars in the year under review, more than 559.2 million denars recorded in 2021.
Osiguruvanje Makedonija, set up as a state insurer in 1945, became part of Austria's Vienna Insurance Group in 2013.
The insurer's shares last traded on the Macedonian Stock Exchange (MSE) on February 27, when they switched hands at an average price of 1,236 denars.
(1 euro = 61.63 denars)