November 28 (SeeNews) - The Vienna Insurance Group (VIG) said on Wednesday its pre-tax profit from operations in Serbia grew to 5.0 million euro ($5.6 million) in the first nine months of 2018 from 3.1 million euro in the like period of the previous year, according to preliminary figures.
VIG's gross written premiums in Serbia fell 12.8% on the year to 68.2 million euro and the combined net ratio fell by 2.8 percentage points to 97.1%, VIG said in a conference call presentation of its preliminary unaudited results for the first nine months of 2018, posted on the corporate website.
The premiums of the motor third party liability (MTPL) insurance sub-segment in Serbia more grew 23.4% to 8.6 million euro, Casco premiums rose 27.3% to 9.6 million euro, and premiums from the Other property sector declined 40.4% to 20.7 million euro.
The group’s gross written premiums from regular life insurance in Serbia increased 8.2% to 21.1 million euro, while single life insurance premiums fell 38.4% to 4.2 million euro. Premiums from health insurance went up 58.1% to 3.9 million euro.
In 2017, the pre-tax profit of VIG from operations in Serbia grew to 3.4 million euro from 2.7 million euro.
($ = 0.885981 euro)
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