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VIG's Q1 pre-tax profit in Albania, Kosovo rises

VIG's Q1 pre-tax profit in Albania, Kosovo rises Ken Teegardin/CC BY-SA 2.0

TIRANA (Albania), May 22 (SeeNews) – Vienna Insurance Group (VIG) said on Wednesday its pre-tax profit from operations in Albania and Kosovo rose 8.8% year-on-year to 627,672 euro ($700,328) in the first quarter of 2019.

Total gross written premiums in Albania and Kosovo increased by an annual 23.5% to 10.3 million euro in the period under review, VIG said in a conference call presentation of first-quarter preliminary unaudited results.

Premiums generated on the motor third party liability (MTPL) insurance sub-segment increased 6.7% to 6.0 million euro, whereas Casco premiums added 20.0% to 490,467 euro. Premiums from other property insurance increased by 82.2% to 3.2 million euro.

VIG's health insurance premiums in Albania and Kosovo increased 13.8% on the year to 599,509 euro in the first three months of 2019.

In both countries, VIG is only active in the non-life insurance segment. In Albania, VIG operates through Sigma Interalbanian and and Intersig. In Kosovo, the group operates through Sigma Interalbanian Kosovo.

($=0.89615 euro)

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