VIG's Jan-Sept pre-tax profit in Moldova plummets

Total gross written premiums of VIG's Moldovan operations rose by an annual 11.2% on the year to 8.0 million euro during January-September, the company said in a conference call presentation of its January-September preliminary unaudited results.

VIG's premiums from motor third party liability insurance in Moldova fell by 5.1% on the year to 2.9 million euro in the first nine months, Casco premiums fell by 10.5% to 2 million euro, while other property premiums rose by 37.9% to 2.4 million euro.

Health insurance premiums surged by 49.5% on the year, reaching 700,000 euro in the nine months through September.

VIG sold no policies for regular and single life insurance in Moldova in the first nine months of 2019.

The group's net combined ratio in Moldova rose to 105.1% in the period under review, compared to 93.4% a year earlier.

VIG's operations in Moldova generated a pre-tax profit of 400,000 euro in 2018, compared to a 5.6 million euro loss in the previous year.

In Moldova, VIG is represented by Donaris company, which it acquired in 2014.

($= 0.9077 euro)