May 7 (SeeNews) - North Macedonia's Osiguruvanje Makedonija - Vienna Insurance Group (VIG) said that its net profit fell to 12.2 million denars ($238,400/196,700 euro) in the first quarter of 2021 from 18.3 million denars in the same period of 2020.
Osiguruvanje Makedonija's revenue fell 7% year-on-year to 190.6 million denars in the January-March period, the company said in an interim financial statement filed with the Skopje bourse last week.
The insurer booked net earned premiums of 126.5 million denars in the review period, less than 150.9 million denars recorded in the same period last year.
The company's expenses fell to 178.4 million denars in the first three months of the year from 186.8 million denars in the like period of 2020.
Osiguruvanje Makedonija, set up as a state insurer in 1945, became part of Austria's Vienna Insurance Group in 2013.
(1 euro = 62.01 denars)
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