November 16 (SeeNews) - Austrian insurance group UNIQA said on Thursday it swung to a 100,000 euro ($117,718) pre-tax profit from operations in Montenegro in the first nine months of 2017, from a 100,000 euro pre-tax loss in the like period of last year.
Premium income from operations in Montenegro, including savings portion of premiums from unit- and index-linked life insurance, rose 2.7% to 7.7 million euro in the review period, UNIQA said in its financial report for the first nine months of 2017.
Total gross written premiums fell 4% to 8.8 million euro, UNIQA said.
Gross written premiums in the non-life insurance segment declined 5% to 7.0 million euro, whereas premiums from life insurance grew 5% to 1.4 million euro.
In the health insurance sector in Montenegro, UNIQA booked a decline of 15% in gross written premiums, to 500,000 euro.
In Southeast Europe, UNIQA also operates in Bosnia and Herzegovina, Bulgaria, Croatia, Kosovo, Macedonia, Montenegro, Romania, and Serbia. The group's pre-tax profit in the region - excluding Romania - fell to 9.2 million euro in the first nine months of 2017 from 10.7 million euro in the respective period of 2016.
($ = 0.849487 euro)