Austrian Vienna Insurance Group (VIG) reported a decrease of the gross premiums underwritten by its Romanian subsidiaries by almost 14% in the first half of this year, to EUR 235 million.
The decline was mainly driven by the mandatory car insurance segment (RCA) where the sales halved compared to the same period last year.
On the upside, the three companies in the group returned to the black in the period, posting EUR 2.4 million total gross profit compared to EUR 43.1 mln losses in the same period last year.
VIG has a share of nearly 25% of the local insurance market, where it operates through three companies - Omniasig, Asirom, and BCR Life Insurance.
Austrian insurance group VIG ended the first quarter with EUR 116 million gross written premiums in Romania, down 21%...