November 26 (SeeNews) - Austria's Vienna Insurance Group (VIG) said on Thursday its operations in Moldova generated a pre-tax profit of 400,000 euro ($475,774) in the first nine months of 2020, compared to a profit of 100,000 euro in the like period of 2019.
VIG's total gross written premiums in Moldova fell by an annual 30.4% to 5.5 million euro in the first nine months of 2020, the group said in a presentation of its preliminary unaudited results.
VIG's premiums from motor third party liability insurance in Moldova fell by an annual 39.8% to 1.8 million euro in the first nine months, Casco premiums shrank by 18.6% to 1.6 million euro, while other property premiums fell 19.9% to 1.9 million euro.
Health insurance premiums fell by 60% on the year during January-September, to 300,000 euro .
VIG sold no policies for regular and single life insurance in Moldova in the first nine months of 2020.
The group's net combined ratio in Moldova fell to 100% in the first nine months of 2020, compared to 105.1% a year earlier.
In 2019, VIG generated a pre-tax profit of 300,000 euro from operations in Moldova, down 15% year-on-year.
In Moldova, VIG is represented by Donaris company, which it acquired in 2014.
($=0.8407 euro)
Donaris Vienna Insurance Group SA is among the biggest insurers in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here