May 23 (SeeNews) - The Vienna Insurance Group (VIG) said on Wednesday that its net profit from operations in Bulgaria rose by an annual 27.7% to 2.8 million euro ($3.3 million) in the first quarter of 2018.
VIG's net earned premiums in Bulgaria added 11.3% on the year to 33.0 million euro in January-March, the company said in an interim financial statement.
The insurer's total income from operations in Bulgaria increased 10.5% to 35.6 million euro in the first three months of the year.
VIG's total expenses in Bulgaria grew 9.1% to 32.5 million euro, as expenses for claims and benefits rose 9.5% to 19.1 million euro.
The group is active on the Bulgarian insurance market through Bulstrad and Bulstrad Life.
($ = 0.8530 euro)
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