March 21 (SeeNews) - The Vienna Insurance Group (VIG) said on Thursday its operations in Moldova generated a pre-tax profit of 400,000 euro ($450,000) in 2018, compared to a 5.6 million euro loss in the previous year.
Total gross written premiums of VIG's Moldovan units fell by an annual 0.9% to 9.4 million euro in 2018, the company said in a conference call presentation of its annual preliminary unaudited results.
VIG's premiums from motor third party liability insurance in Moldova declined 4.6% on the year to 3.6 million euro in 2018, casco premiums fell 1.1% to 3 million euro, while other property premiums decreased 1.1%, to 2.2 million euro.
Health insurance premiums rose by 29.6% on the year to 600,000 euro in 2018.
VIG sold no policies for regular and single life insurance in Moldova last year.
The group's net combined ratio in Moldova improved to 99.9% in 2018 from 103.5% in the prior year.
In Moldova, VIG is represented by Donaris company, which it acquired in 2014.
($= 0.8809 euro)
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