Insurance premium revenue of VIG units in Slovakia rises by 3.8% y/y in 2009.

By bne IntelliNews April 1, 2010
Aggregate premium revenue of the three Slovak units of Austrian Vienna Insurance Group reached EUR 628.4mn in 2009 and increased by 3.8% y/y, audited results of the units showed. The three companies included Kooperativa, Komunalna Poistovna and Poistovna Slovenskej Sporitelne. Non-life insurance accounted for the majority 53.1% share of the total revenue and was up by 0.9% y/y. Life insurance rose at a faster pace of 7.2% y/y for the year. Gross profit of the VIG units was a joint EUR 23mn in 2009, improving considerably from the EUR 5mn profit for 2008. Combined, the three units should beat Allianz-Slovenska Poistovna for the top position on the insurance market during the year with a share of 31.4%.

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