November 27 (SeeNews) - The Vienna Insurance Group (VIG) has recorded a 6.2 million euro ($6.8 million) pre-tax profit from operations in Serbia in the first nine months of 2019, up from 5.0 million euro profit in the like period of last year, according to preliminary figures.
VIG's gross written premiums in Serbia grew 12% on the year to 76.4 million euro, while the combined net ratio fell by 7.4 percentage points to 89.7%, VIG said in a conference call presentation of its preliminary unaudited results for the first nine months of 2019.
The premiums of the motor third-party liability (MTPL) insurance sub-segment in Serbia declined 5.8% to 8.1 million euro, Casco premiums rose 2.1% to 9.8 million euro, and premiums from the Other property sector went up 22.2% to 25.3 million euro.
The group’s gross written premiums from regular life insurance in Serbia increased by 7.6% to 22.7 million euro, while single life insurance premiums rose 50% to 6.3 million euro. Premiums from health insurance went up 7.7% to 4.2 million euro.
($ = 0.908702 euro)
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