VIG claims H1 pre-tax profit of EUR 1 M in Romania


Vienna Insurance Group (VIG) recorded in Romania, in H1 2014, a pre-tax profit of 1 million euros, compared to a loss of 17.9 million euros in the same period of last year, according to the results released on Tuesday by the insurance company.

Moreover, VIG posted in Romania a volume of gross underwritten premiums of 165.2 million euros in H1 of this year, down by 15.8% from the same period in 2013, this volume was worth 196.3 million euros.

‘Vienna Insurance Group recorded a remarkable performance in H1 2014 in terms of pre-tax profit, which increased significantly by 41.4% and stood at 290.9 million euros. Approximately 55% of profit was recorded in the CEE region, where the companies owned by the group in Romania continued to improve their results. Despite the profit-oriented underwriting policy, Vienna Insurance Group posted a stable level of premiums, worth some 5 billion euros, amid a difficult economic context. The Group has recorded even a solid growth of 1% after adjusting to the currency rate’s effects,’ the company informs in a release