Austrian insurer VIG sees 16% revenue growth in Romania in H1
Romania was the fastest-growing market for Austrian insurance group VIG in the first half of this year. The group’s local subsidiaries recorded gross written premiums of EUR 266.4 mln in the first six months of this year, up by 16.3%…
Andrei Chirileasa · Journalist
· Updated · 1 min read
Romania was the fastest-growing market for Austrian insurance group VIG in the first half of this year. The group’s local subsidiaries recorded gross written premiums of EUR 266.4 mln in the first six months of this year, up by 16.3% compared with the same period of 2020.
The only other market where VIG recorded similar growth was Hungary, with a 14.5% increase in gross written premiums to EUR 175.9 mln. Poland (+8.5%) and Czech Republic (+7.5%) also supported the group’s business growth in the first six months.
Overall, the group’s revenues went up by 3.5% in the first half of this year to EUR 5.77 bln, while the gross profit increased by 25% to EUR 251.4 mln.
The group’s gross profit in Romania was EUR 9.6 mln, almost unchanged compared with the same period of 2020.
For the whole year, VIG estimates EUR 10.4 bln worth of premiums and a gross profit in the range of EUR 450 mln to EUR 500 mln.
(Photo source: Shutterstock)
