SARAJEVO (Bosnia and Herzegovina), November 28 (SeeNews) – The Vienna Insurance Group (VIG) said on Wednesday it turned to a pre-tax profit of 700,000 euro ($790,000) in Bosnia and Herzegovina in the first nine months of 2018, from a loss of 400,000 euro in the like period last year.
Total gross written premiums of VIG's Bosnian unit rose by 59.5% on the year to 19.6 million euro in the January-September period, VIG said in a financial statement for the first nine months of 2018.
Premiums from regular life insurance grew to 7.5 million euro in the nine months through June from 1.1 million euro, while premiums from single life insurance declined 3% to 1.1 million euro.
Premiums from the motor third party liability sub-segment of insurance dropped 23% to 2.7 million euro, while that of the CASCO segment rose 1.2% to some 900,000 euro, and other property premiums increased 29.9% to 7.3 million euro.
VIG heads Wiener Osiguranje in Bosnia and Herzegovina, which was set up in 2011. Earlier this year it completed the acquisition of Bosnian subsidiary of Merkur International Holding AG.
VIG, headquartered in Vienna, operates around 50 insurance companies in 25 countries in Europe, including Romania, Serbia, Moldova, Bulgaria, Albania, Macedonia and Croatia.
($ = 0.885859 euro)