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VIG swings to 9-mo pre-tax profit in W. Balkans, Croatia – table

VIG swings to 9-mo pre-tax profit in W. Balkans, Croatia – table

TIRANA (Albania), November 19 (SeeNews) - Austria's Vienna Insurance Group (VIG) said it turned a pre-tax profit of 17.6 million euro ($19.9 million) in the first nine months of 2021 from operations in Albania, Kosovo, Bosnia, North Macedonia, Serbia and Croatia compared to a 26.6 million euro loss in the same period of 2020.

There was a positive premium development in all these markets, with the overall increase mainly driven by Croatia, VIG said in an interim financial report on Thursday.

The nine-month result for 2020 was impacted by goodwill impairment of 45 million euro in the second quarter in Croatia, it added.

Details follow (in millions of euro):

Gross premiums written Jan-Sept 21 Gross premiums written Jan-Sept 20 Result before tax Jan-Sept 21 Result before tax Jan-Sept 20
Total 288.6 259.9 17.6 -26.6
Albania + Kosovo 32.7 29.6 2.6 2.7
Bosnia and Herzegovina 26.1 24.2 0.3 -0.2
Croatia 126.3 104.7 5.7 -39
North Macedonia 21.9 20.1 1.1 1.8
Serbia 81.6 81.2 8 8

($ = 0.8833 euro)

Wiener Stadtische Osiguranje AD is among the biggest insurers in SEE, for more reference take a look at Top 100 insurers