VIG’s pre-tax profit, up 63% in Romania

Vienna Insurance Group (VIG) saw an increase of 63% in its pre-tax profit in Romania in the first six months of this year compared to the same period last year, to EUR 5.8 million, despite a decline in revenues. The group’s local companies wrote gross premiums worth EUR 258.5 million, 3.1% lower than in the first half of 2016. The Austrian group’s pre-tax profit went up by 10% year-on-year during this period worldwide reaching EUR 220.5 million. VIG wrote gross premiums of EUR 4.97 billion at group level in the first six months of the year, up 1% year-on-year. The group saw increases on all business segments, except for life insurance premiums. Its solvency ratio reached 224.5% at the end of June, compared to 194.5% at the end of December. Vienna Insurance Group owns local insurers Omniasig, Asirom, and BCR Asigurari de Viata. editor@romania-insider.com