March 15 (SeeNews) - Austria's Vienna Insurance Group (VIG) said on Wednesday that it turned to a pre-tax loss of 9.2 million euro ($9.9 million) in Albania and Kosovo, after booking a pre-tax profit of 6.1 million euro a year earlier.
VIG's result in Albania and Kosovo in 2022 was impacted by a goodwill impairment of negative 26.2 million euro, VIG said in an annual financial statement.
Total gross written premiums in Albania and Kosovo increased 7.5% year-on-year to 48.4 million euro in the year under review.
Premiums generated on the motor third party liability (MTPL) insurance sub-segment rose 7.9% to 33.8 million euro, whereas Casco premiums went up 19% to 2.8 million euro. Premiums from other property insurance increased 4.1% to 8.6 million euro.
VIG's health insurance premiums in Albania and Kosovo increased 3% on the year to 3.2 million euro in the year under review.
In both countries, VIG is only active in the non-life insurance segment. In Albania, VIG operates through Sigma Interalbanian and Intersig. In Kosovo, the group operates through Sigma Interalbanian Kosovo.
($ = 0.931515 euro)