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VIG's 9-mo pre-tax profit in Albania, Kosovo rises

VIG's 9-mo pre-tax profit in Albania, Kosovo rises wrangler/Shutterstock.com

TIRANA (Albania), November 28 (SeeNews) – The Vienna Insurance Group (VIG) said on Wednesday its pre-tax profit from operations in Albania and Kosovo rose 31.2% year-on-year to 2.2 million euro ($2.5 million) in the first nine months of 2018.

Total gross written premiums in Albania and Kosovo increased by an annual 5.7% to 29.5 million euro in the January-September period, VIG said in an interim financial report.

Premiums generated on the motor third party liability (MTPL) insurance sub-segment increased 6.4% to 20.2 million euro, whereas Casco premiums increased to 1.4 million euro from 1.1 million euro. Premiums from other property insurance decreased by 3.0% to 5.8 million euro.

VIG's health insurance premiums in Albania and Kosovo increased 13.3% on the year to 2.1 million euro in the first nine months of 2018.

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.

($ = 0.88377 euro)

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