Premium revenues of VIG's Macedonian operations up by 52% y/y in H1 2011.

By bne IntelliNews August 18, 2011
The gross written premiums of Vienna Insurance Group (VIG) in Macedonia increased by 52% y/y to EUR 4.7mn in H1, according to data published by VIG. In Macedonia, VIG owns the non-life insurer WINNER (formerly Sigma), which it started to consolidate in 2009. As recalled, a newly founded life insurance company WINNER Life, a unit of VIG, has launched operations in Macedonia in February 2011. Nevertheless, VIG reports premium revenues only from non-life insurance in Macedonia for the first half of this year. The profit before taxes from local operations has tripled y/y to EUR 0.3mn in H1.
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