August 22 (SeeNews) - The Vienna Insurance Group (VIG) said on Tuesday that its operations in Albania and Kosovo generated a profit before taxes of 1 million euro ($1.17 million) in the first half of 2017, up from a pre-tax profit of 200,000 euro a year ago.
Total gross written premiums in Albania and Kosovo added 6.4% year-on-year to 17.8 million euro in the January-June period, VIG said in an interim financial statement.
Premiums generated on the motor third party liability (MTPL) insurance sub-segment edged up 1.9% on the year to 11.4 million euro in the six months through June, whereas Casco premiums increased 7.4% to 800,000 euro. Premiums from other property insurance added 24.4% to 4.3 million euro.
VIG's health insurance premiums in Albania and Kosovo declined 2.7% on the year to 1.4 million euro in the first six months of 2017.
In both countries, VIG is only active in the non-life insurance segment. In Albania, VIG operates through Sigma Interalbanian and and Intersig. In Kosovo, the group operates through Sigma Interalbanian Kosovo.
($ = 0.8483 euro)