ZAGREB (Croatia), March 22 (SeeNews) – The Vienna Insurance Group (VIG) said on Thursday its 2017 pre-tax profit from operations in Croatia edged up 1.1% year-on-year to 7.0 million euro ($8.6 million).
Total gross written premiums of VIG's Croatian units - Wiener Osiguranje and Erste Osiguranje - grew by an annual 2.7% to 101.9 million euro in the January-December period, VIG said in a financial report published on its website.
Casco premiums increased 9.3% on the year to 5.2 million euro and other property jumped 20.7% to 19.4 million euro. However, the motor third party liability sub-segment contracted 18.4% to 13.3 million euro.
VIG's premiums from regular life insurance on the Croatian market dropped 3.0% to 32.1 million euro, while single life insurance recorded a 4.8% increase to 30.2 million euro. Health insurance jumped from 0.2 million euro to 1.7 million euro.
VIG, headquartered in Vienna, operates around 50 insurance companies in 25 countries in Europe, including Romania, Serbia, Moldova, Bulgaria, Albania, Macedonia, and Bosnia and Herzegovina.
The insurer is due to merge its two Croatian brands, Erste osiguranje and Wiener osiguranje, at the end of April.
($=0.8108 euro)
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