TIRANA (Albania), May 20 (SeeNews) – Austria's Vienna Insurance Group (VIG) said on Wednesday that its pre-tax profit from operations in Albania and Kosovo increased by 7.4% year-on-year to 700,000 euro ($766,000) in the first quarter of the year.
Total gross written premiums in Albania and Kosovo dropped 9.2% to 9.3 million euro in the period under review, VIG said in an interim financial statement.
Premiums generated on the motor third party liability (MTPL) insurance sub-segment fell 6.8% to 5.6 million euro, whereas Casco premiums edged up 0.6% on the year to 500,000 euro. Premiums from other property insurance decreased by 21.1% to 2.5 million euro.
VIG's health insurance premiums in Albania and Kosovo increased by 20.9% on the year to 700,000 euro in the first quarter of 2020.
In both countries, VIG is only active in the non-life insurance segment. In Albania, VIG operates through Sigma Interalbanian and Intersig. In Kosovo, the group operates through Sigma Interalbanian Kosovo.
($ = 0.9137 euro)