August 27 (SeeNews) - The Vienna Insurance Group (VIG) has recorded a 3.7 million euro ($4.1 million) pre-tax profit from operations in Serbia in the first half of 2019, up from 3.3 million euro profit in the like period of last year, according to preliminary figures.
VIG's gross written premiums in Serbia grew 8% to 49.8 million euro, while the combined net ratio fell by 5.5 percentage points to 91.6%, VIG said in a conference call presentation of its preliminary unaudited results for the first half.
The premiums of the motor third-party liability (MTPL) insurance sub-segment in Serbia declined 5.5% to 5.5 million euro, Casco premiums rose 2.4% to 6.6 million euro, and premiums from the Other property sector went up 3.2% to 16.1 million euro.
The group’s gross written premiums from regular life insurance in Serbia increased by 7.7% to 15.1 million euro, while single life insurance premiums rose 86.2% to 3.6 million euro. Premiums from health insurance went up 26% to 2.9 million euro.
($ = 0.899937 euro)
Wiener Stadtische Osiguranje AD is among the biggest insurers in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here