Vienna Insurance Group sees subscribed premiums down while its pre-tax profit up 56%
Vienna Insurance Group (VIG) posted subscribed premiums of EUR 396.6 million in the first nine months of the year, down 13 percent on the same period last year. However, the insurer managed to grow its pre-tax profit by 56 percent, to EUR 25.9 million.
The group's revenues in Romania went down by 12.4 percent to EUR 415.7 million, but its expenses were down as well: a drop of 14.9 percent, to EUR 398.8 million. VIG owns several insurance companies in Romania: Omniasig, Omniasig Life, Asirom, BCR Asigurări and BCR Asigurări de Viaţă (Life Insurance).
The group managed to increase its subscribed premiums by 7 percent, to EUR 6.5 billion internationally. Its profit before taxes was up 11 percent, to EUR 377 million.
editor@romania-insider.com
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