August 28 (SeeNews) - The Vienna Insurance Group (VIG) said on Tuesday its pre-tax profit from operations in Serbia grew to 3.3 million euro ($3.9 million) in the first half of 2018 from 1.3 million euro in the like period of the previous year, according to preliminary figures.
VIG's gross written premiums in Serbia fell 15.4% to 46.1 million euro and the combined net ratio fell by 5.9 percentage points to 97.1%, VIG said in a conference call presentation of its preliminary unaudited results for the first quarter of 2018, posted on the corporate website.
The premiums of the motor third party liability (MTPL) insurance sub-segment in Serbia more grew 43.5% to 5.8 million euro, Casco premiums rose 31.6% to 6.4 million euro, and premiums from the Other property sector declined 37.6% to 15.6 million euro.
The group’s gross written premiums from regular life insurance in Serbia increased 8.6% to 14 million euro, while single life insurance premiums fell 68.3% to 1.9 million euro. Premiums from health insurance went up 47.7% to 2.3 million euro.
In 2017, the pre-tax profit of VIG from operations in Serbia grew to 3.4 million euro from 2.7 million euro.
($ = 0.854408 euro)