TIRANA (Albania), March 22 (SeeNews) – The Vienna Insurance Group (VIG) said on Thursday that its operations in Albania generated a profit before taxes of 500,000 euro ($614,306) in 2017, down from 1.2 million euro a year ago.
Total gross written premiums in Albania grew to 37.2 million euro in 2017 from 36.4 million euro in 2016, VIG said in its 2017 preliminary unaudited results.
Premiums generated on the motor third party liability (MTPL) insurance sub-segment increased to 25.4 million euro, whereas Casco premiums increased 1.5 million euro. Premiums from other property insurance rose to 7.9 million euro.
VIG's health insurance premiums also increased, to 2.4 million euro, in 2017.
VIG is only active in the non-life insurance segment in Albania and operates through Sigma Interalbanian and Intersig.
($=0.8138 euro)