November 22 (SeeNews) - The Vienna Insurance Group (VIG) said on Tuesday its pre-tax profit from operations in Albania plunged 45.3% on the year to 742,000 euro ($789,000) in the first nine moths.
Total gross written premiums in Albania fell 4.2% to 26.7 million euro in January-September, VIG said in its January-September interim financial report published on its website.
Premiums generated on the motor third party liability (MTPL) insurance sub-segment edged down 1.4% to 18.1 million euro, whereas casco premiums increased 5.7% to 1.1 million euro. Premiums from other property decreased 10.7% to 5.6 million euro.
VIG's health insurance premiums in Albania declined 13.6% to 1.9 million euro in the review period.
In Albania, VIG is only active in the non-life insurance segment, in which it operates through its units Sigma, Intersig and Sigma Interalbanien. Sigma Interalbanian ranked second in the non-life insurance segment at end-2015, according to data from the Albanian insurance regulator.
($ = 0.9403 euro)