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VIG's H1 pre-tax profit in N. Macedonia edges down

VIG's H1 pre-tax profit in N. Macedonia edges down Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SKOPJE (North Macedonia), August 27 (SeeNews) – Austria's Vienna Insurance Group (VIG) said on Tuesday its profit before taxes from operations in North Macedonia edged down 0.9% year-on-year to 1.9 million euro ($2.1 million) in the first half of 2019.

VIG's total gross written premiums in North Macedonia rose to 15.3 million euro in January-June from 14.4 million euro in the same period of 2018, VIG said in an unaudited interim financial report.

Gross motor third party liability premiums rose 9.1% to 6.2 million euro in the review period, while other property premiums increased by 3.7% to 8.1 million euro.

Gross premiums on the Casco segment increased by 1.9% on the year to 0.9 million euro.

The Austrian group has been active in North Macedonia through insurers Winner and Winner Life since 2007. In August 2013, VIG completed the acquisition of Osiguravanje Makedonija, formerly QBE Makedonija.

($=0.89924 euro)