March 21 (SeeNews) - The Vienna Insurance Group (VIG) has recorded a 6.5 million euro ($7.4 million) pre-tax profit from operations in Serbia in 2018, up from 3.4 million euro profit in the previous year, according to preliminary figures.
VIG's gross written premiums in Serbia fell 14% to 93.7 million euro, while the combined net ratio rose by 6.4 percentage points to 95.2%, VIG said in a conference call presentation of its preliminary unaudited results for 2018.
The premiums of the motor third party liability (MTPL) insurance sub-segment in Serbia grew 15.8% to 11.7 million euro, Casco premiums rose 22.9% to 12.9 million euro, and premiums from the Other property sector declined 42.9% to 27.1 million euro.
The group’s gross written premiums from regular life insurance in Serbia increased 7% to 30.5 million euro, while single life insurance premiums fell 25% to 6.6 million euro. Premiums from health insurance went up 36.1% to 4.9 million euro.
($ = 0.876905 euro)
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