March 23 (SeeNews) - The Vienna Insurance Group (VIG) said on Thursday that its operations in Albania and Kosovo resulted in a pre-tax profit of 1.2 million euro in 2016, following a pre-tax loss of 2.9 million euro in 2015, according to preliminary data.
Total gross written premiums in Albania and Kosovo dropped 2.2% to 36.4 million euro last year, VIG said in a presentation of its 2016 preliminary unaudited results posted on its website.
Premiums generated on the motor third party liability (MTPL) insurance sub-segment was flattish at 24.8 million euro, whereas casco premiums increased 6% year-on-year to 1.5 million euro. Premiums from other property insurance decreased 4.4% to 7.8 million euro.
VIG's health insurance premiums in Albania and Kosovo declined 16.7% to 2.3 million euro last year. Financial results for 2015 have been restated, the insurer said.
In both countries, VIG is only active in the non-life insurance segment. In Albania, VIG operates through Sigma Interalbanian and and Intersig. In Kosovo, the group operates through Sigma Interalbanian Kosovo.
VIG said it will post the final audited information for financial year 2016 on April 19.