May 23 (SeeNews) - The Vienna Insurance Group (VIG) said on Wednesday its pre-tax profit from operations in Serbia grew to 1.9 million euro ($2.2 million) in the first quarter of 2018 from 1.4 million euro in the like period of the previous year, according to preliminary figures.
VIG's gross written premiums in Serbia grew 1.3% to 28.2 million euro and the combined net ratio fell by 1.3 percentage points to 98.2%, VIG said in a conference call presentation of its preliminary unaudited results for the first quarter of 2018, posted on the corporate website.
The premiums of the motor third party liability (MTPL) insurance sub-segment in Serbia more grew 67.5% to 2.5 million euro, Casco premiums rose 30.1% to 2.6 million euro, and premiums from the Other property sector grew 23.3% to 14.5 million euro.
The group’s gross written premiums from regular life insurance in Serbia increased 7.3% to 6.5 million euro, while single life insurance premiums fell 83.9% to 900,000 euro. Premiums from health insurance went up 31.5% to 1.3 million euro.
In 2017, the pre-tax profit of VIG from operations in Serbia grew to 3.4 million euro from 2.7 million euro.
($ = 0.8532 euro)