August 22 (SeeNews) - The Vienna Insurance Group (VIG) said on Tuesday its profit before tax from operations in Macedonia has increased by an annual 16.6% to 1.5 million euro ($1.8 million) in the first half of 2017, despite recording lower total gross written premiums.
Total gross written premiums in Macedonia fell by an annual 6.4% to 14.3 million euro in the January-June period, VIG said in an interim financial statement.
Motor third liability (MTPL) premiums grew 14.0% year-on-year to 5.5 million euro, while Casco premiums fell by an annual 33.2% to 900,000 euro. Other property premiums decreased 12.5% on the year to 7.9 million euro.
VIG is present on the Macedonian insurance market through Osiguruvanje Makedonija, Winner Osiguruvanje and Winner Life.
($ = 0.8483 euro)
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