CHISINAU (Moldova), May 17 (SeeNews) - Austria's Vienna Insurance Group (VIG) said on Tuesday its operations in Moldova generated a pre-tax profit of 100,000 euro ($104,719) in the first quarter of 2022, down 28.7% year-on-year.
VIG's total gross written premiums in Moldova rose by an annual 14.3% to 2.8 million euro in the first quarter, the group said in a presentation of its preliminary unaudited results.
VIG's premiums from motor third party liability insurance (MTPL) in Moldova jumped by an annual 55.8% to 1.1 million euro in the first quarter, Casco premiums rose by 13.6% to 0.8 million euro, while other property premiums fell by an annual 17.6% to 0.8 million euro.
Health insurance premiums rose by 17.3% on the year, reaching 0.1 million euro during January-March.
VIG sold no policies for regular and single life insurance in Moldova in the first quarter of 2022.
The group's net combined ratio in Moldova rose to 104.4% in the first quarter, compared to 96.8% a year earlier.
In Moldova, VIG is represented by Donaris company, which it acquired in 2014.
($= 0.9549 euro)