TIRANA (Albania), March 21 (SeeNews) – The Vienna Insurance Group (VIG) said on Thursday its pre-tax profit from operations in Albania and Kosovo rose to 2.3 million euro ($2.6 million) in 2018 from 500,000 euro in the prior year.
Total gross written premiums in Albania and Kosovo increased 8.1% year-on-year to 40.2 million euro in 2018, VIG said in a said in a conference call presentation of its preliminary unaudited results for 2018.
Premiums generated on the motor third party liability (MTPL) insurance sub-segment increased 8.8% to 27.6 million euro, whereas Casco premiums increased to 1.9 million euro from 1.5 million euro. Premiums from other property insurance increased by 2.6% to 8.1 million euro.
VIG's health insurance premiums in Albania and Kosovo increased 8.4% on the year to 2.6 million euro in 2018.
In both countries, VIG is only active in the non-life insurance segment. In Albania, VIG operates through Sigma Interalbanian and and Intersig. In Kosovo, the group operates through Sigma Interalbanian Kosovo.
($ = 0.87953 euro)
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