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VIG doubles pre-tax profit in Albania, Kosovo in Q1

VIG doubles pre-tax profit in Albania, Kosovo in Q1 Ministry of Economy/All rights reserved.

TIRANA (Albania), May 17 (SeeNews) - Austria's Vienna Insurance Group (VIG) said on Tuesday that its pre-tax profit from operations in Albania and Kosovo reached 1 million euro ($1.05 million) in the first quarter of 2022, compared with about 500,000 euro pre-tax profit booked in the like period of last year.

Total gross written premiums in Albania and Kosovo edged up 3% on the year to 9.8 million euro in the period under review, VIG said in an interim financial statement.

Premiums generated on the motor third party liability (MTPL) insurance sub-segment rose 5.1% to 6.4 million euro, whereas Casco premiums went up 17.3% on the year to 600,000 euro. Premiums from other property insurance decreased by 6.5% to 2 million euro.

VIG's health insurance premiums in Albania and Kosovo increased by 3.8% on the year to 800,000 euro in the first quarter of 2022.

In both countries, VIG is only active in the non-life insurance segment. In Albania, VIG operates through Sigma Interalbanian and Intersig. In Kosovo, the group operates through Sigma Interalbanian Kosovo.

($ = 0.9494 euro)

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