ZAGREB (Croatia), May 23 (SeeNews) – The Vienna Insurance Group (VIG) said on Wednesday its three-month pre-tax profit from operations in Croatia decreased 4.7% year-on-year to 2.1 million euro ($2.5 million).
Total gross written premiums of VIG's Croatian units - Wiener Osiguranje and Erste Osiguranje - rose by an annual 3.9% to 29.0 million euro in the January-March period, VIG said in its interim financial report for published on its website.
Casco premiums dropped 7.7% on the year to 1.3 million euro, while other property jumped 17.2% to 7.9 million euro in the review period. The motor third party liability sub-segment contracted 14.2% to 2.8 million euro.
VIG's first-quarter premiums from regular life insurance on the Croatian market fell 5.8% to 7.7 million euro, while single life insurance recorded a 8.9% increase to 8.7 million euro. Health insurance totalled 600,000 euro, compared to 300,000 euro last year.
VIG, headquartered in Vienna, operates around 50 insurance companies in 25 countries in Europe, including Romania, Serbia, Moldova, Bulgaria, Albania, Macedonia, and Bosnia and Herzegovina.
The insurer said earlier it will merge its two Croatian brands, Erste osiguranje and Wiener osiguranje, at the end of April.
($=0.853355 euro)
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