ZAGREB (Croatia), May 20 (SeeNews) – Austria's Vienna Insurance Group (VIG) said on Wednesday its pre-tax profit from operations in Croatia increased 6.9% year-on-year to 2.6 million euro ($2.8 million) in the first quarter of 2020.
Total gross written premiums of VIG's Croatian unit, Wiener Osiguranje, grew by an annual 56.7% to 46.2 million euro in January-March, VIG said in its quarterly financial report.
Premiums in the motor third party liability sub-segment rose 27% to 3.4 million euro in the period under review.
VIG's premiums from regular life insurance on the Croatian market dropped 6% on the year to 6.7 million euro in the first three months of the current year, while premiums from single life insurance jumped to 20.6 million euro, from 6.5 million euro in January-March 2019.
Casco premiums rose 49% on the year to 1.9 million euro, whereas other property insurance premiums increased 7.6% to 11.9 million euro.
Health insurance premiums almost doubled to 1.8 million euro, from 1.0 million euro in the first quarter of last year.
VIG operates around 50 insurance companies in 25 countries in Europe, including Romania, Serbia, Moldova, Bulgaria, Albania, North Macedonia, and Bosnia and Herzegovina.
($=0.913828 euro)
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