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Nov 29, 2017 12:08 EEST
BANJA LUKA (Bosnia and Herzegovina), November 29 (SeeNews) – The Vienna Insurance Group (VIG) said on Wednesday it pre-tax loss from operations in Bosnia and Herzegovina contracted 57.9% to 0.4 million euro ($0.5 million) in the first nine months of 2017.
Total gross written premiums of VIG's Bosnian unit, Wiener Osiguranje, leapt by an annual 28.1% to 12.3 million euro in January-September, VIG said in its Q3 2017 financial report.
Premiums from regular life insurance increased 20.8% to 1.1 million euro, while premiums from single life insurance rose to 1.1 million euro from 0.4 million euro.
Premiums from motor third party liability (MTPL) increased 3.4% to 3.6 million euro, while the Casco sub-segment added 4.7% to 0.9 million euro in the nine-month period. Other property premiums surged 39.9% to 5.6 million euro.
VIG, headquartered in Vienna, operates around 50 insurance companies in 25 countries in Europe, including Romania, Serbia, Moldova, Bulgaria, Albania, Macedonia and Croatia.
Last month, VIG signed a deal to fully acquire the Bosnian subsidiary of Merkur International Holding AG for an undisclosed sum.
The transaction is subject to approval by the local authorities, VIG said at the time.
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