VIG reports rise in 9-mo pre-tax profit in Serbia

VIG's gross written premiums in Serbia grew 21.3% on the year to 78.2 million euro and the combined net ratio fell by 4.2 percentage points to 99.9%, VIG said in a conference call presentation of its preliminary unaudited results for the first nine months of 2017, posted on the corporate website.

The motor third party liability (MTPL) insurance sub-segment in Serbia reported a 99.4% increase in premiums to 7.0 million euro, Casco premiums rose 23.1% to 7.6 million euro, and premiums from the Other property sector grew 16.6% to 34.8 million euro.

The group’s gross written premiums from regular life insurance in Serbia increased 8.7% to 19.5 million euro, while single life insurance premiums grew to 6.8 million euro from 5.8 million euro. Premiums from health insurance nearly doubled to 2.5 million euro from 1.1 million euro.

In 2016, the pre-tax profit of VIG from operations in Serbia fell by 11.5% to 2.7 million euro.

($ = 0.844281 euro)