Austrias VIG says Czech 2011 premiums up 5.3%, pre-tax profit rises 13.4%.

By bne IntelliNews March 30, 2012
Austria's Vienna Insurance Group (VIG) said gross written premiums in the Czech Republic rose by 5.3% y/y to EUR 1.8bn in 2011, the group said in a statement. Non-life insurance income remained stable at EUR 999.4mn, while the life insurance income grew by 12.9% to EUR 849.5mn. Pre-tax profit rose by 13.4% to EUR 189.7mn. The combined ratio improved to 91.6%, down by 1.6pps compared to 2010. VIG kept its leading position on the Czech market holding a share of more than 30%. The group owns Kooperativa, Ceska Podnikatelska Pojistovna and Pojistovna Ceske Sporitelny in the country.

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