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VIG's 9-mo pre-tax profit in Albania, Kosovo shrinks 29%

VIG's 9-mo pre-tax profit in Albania, Kosovo shrinks 29% wrangler/Shutterstock.com

TIRANA (Albania), November 27 (SeeNews) – Austria's Vienna Insurance Group (VIG) said on Wednesday its pre-tax profit from operations in Albania and Kosovo fell 29.0% year-on-year to 1.6 million euro ($1.8 million) in the first nine months of 2019.

Total gross written premiums in Albania and Kosovo increased by an annual 9.9% to 32.4 million euro in the period under review, VIG said in an interim financial report.

Premiums generated on the motor third party liability (MTPL) insurance sub-segment increased 5.1% to 21.2 million euro, whereas Casco premiums added 18.2% to 1.7 million euro. Premiums from other property insurance increased by 25.5% to 7.2 million euro.

VIG's health insurance premiums in Albania and Kosovo increased 7.6% on the year to 2.3 million euro in January-September 2019.

In both countries, VIG is only active in the non-life insurance segment. In Albania, VIG operates through Sigma Interalbanian and Intersig. In Kosovo, the group operates through Sigma Interalbanian Kosovo.

($=0.90768 euro)

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