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VIG's net profit in Bulgaria almost doubles in 2018

Author Mario Tanev
VIG's net profit in Bulgaria almost doubles in 2018

SOFIA (Bulgaria), March 21 (SeeNews) - The Vienna Insurance Group (VIG) said on Thursday that its net profit from operations in Bulgaria soared 92.9% to 11 million euro ($12.6 million) in 2018.

Gross written premiums (GWP) in Bulgaria rose 14.1% to 171.3 million euro, while net earned premiums added 12.1% to 122.8 million euro, VIG said in an annual financial statement citing preliminary figures.

The group's total expenses in Bulgaria increased 6.7% to 125.5 million euro.

Details about the company's GWP in Bulgaria follow (mln euro):

  2018 2017
MTPL 25.1 21.2
Casco 53.4 47.1
Other property 37.6 37.1
Life regular 24.9 25.3
Life single 9.6 8.2
Health 20.7 11.3

The group is active on the Bulgarian insurance market through Bulstrad Non-life, Bulstrad Life and Nova Ins. Non-life. It also holds a stake in Doverie, the largest Bulgarian pension assurance company.

($ = 0.8767 euro)