August 22 (SeeNews) - The Vienna Insurance Group (VIG) said on Tuesday its pre-tax profit from operations in Bulgaria rose 13.8% year-on-year in the first half, reaching 4.3 million euro ($5.1 million) on the back of solid growth of non-life insurance premiums.
VIG's total gross written premiums in Bulgaria grew by an annual 10.0% to 82.5 million euro in the first six months of 2017.
Premiums generated from motor third party liability (MTPL) insurance added 28.4% on the year to 11.3 million euro in January-June, the Vienna-headquartered insurer said in H1 2017 financial statement.
Casco premiums rose by 19% to 23.8 million euro, while other property premiums grew by 12.2% to 23.8 million euro.
The group’s gross written premiums from regular life insurance in Bulgaria rose 7.6% to 15.5 million euro, while single life insurance premiums increased to 4 million euro from 3.4 million euro in the corresponding period last year.
Health insurance premiums rose to 6.5 million euro in the first six months from 4 million euro in the like period last year.
VIG is active on the Bulgarian insurance market through Bulstrad and Bulstrad Life companies.
($ = 0.8480 euro)