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VIG's pre-tax profit in Albania, Kosovo falls in Q1 2021

VIG's pre-tax profit in Albania, Kosovo falls in Q1 2021 Ken Teegardin/CC BY-SA 2.0

TIRANA (Albania), May 19 (SeeNews) – Austria's Vienna Insurance Group (VIG) said on Wednesday that its pre-tax profit from operations in Albania and Kosovo decreased by 31.5% year-on-year to 500,000 euro ($611,000) in the first quarter of 2021.

Total gross written premiums in Albania and Kosovo edged up 1.7% on the year to 9.5 million euro in the period under review, VIG said in an interim financial statement.

Premiums generated on the motor third party liability (MTPL) insurance sub-segment rose 8.7% to 6.1 million euro, whereas Casco premiums edged down 3.7% on the year to 500,000 euro. Premiums from other property insurance decreased by 14.1% to 2.1 million euro.

VIG's health insurance premiums in Albania and Kosovo increased by 5.6% on the year to 800,000 euro in the first quarter of 2021.

In both countries, VIG is only active in the non-life insurance segment. In Albania, VIG operates through Sigma Interalbanian and Intersig. In Kosovo, the group operates through Sigma Interalbanian Kosovo.

($ = 0.8183 euro)

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