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VIG's H1 pre-tax profit in Albania, Kosovo rises 11.5%

VIG's H1 pre-tax profit in Albania, Kosovo rises 11.5% Ken Teegardin/CC BY-SA 2.0

TIRANA (Albania), August 27 (SeeNews) – Austria's Vienna Insurance Group (VIG) said on Tuesday its pre-tax profit from operations in Albania and Kosovo rose 11.5% year-on-year to 1.3 million euro ($1.4 million) in the first half of 2019.

Total gross written premiums in Albania and Kosovo increased by an annual 10.8% to 20.2 million euro in the period under review, VIG said in a presentation of its first-half preliminary unaudited results.

Premiums generated on the motor third party liability (MTPL) insurance sub-segment increased 6.8% to 12.9 million euro, whereas Casco premiums added 18.8% to 1.1 million euro. Premiums from other property insurance increased by 26.3% to 4.6 million euro.

VIG's health insurance premiums in Albania and Kosovo increased 1.7% on the year to 1.6 million euro in January-June 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.

($=0.89924 euro)

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