Vienna Insurance Group H1 pre-tax profit in Slovakia rises 2.6% y/y.

By bne IntelliNews August 23, 2012
Vienna Insurance Group said its Slovak business posted a pre-tax profit of EUR 29.3mn for the first half of 2012, up 2.6% y/y. Gross written premiums grew 5.6% to EUR 358.1mn and expenses for claims and insurance benefits increased at the same annual pace to EUR 241mn. Premiums in the life insurance segment climbed 8.6% to EUR 182.1mn, and non-life insurance premiums grew 2.8% to EUR 176mn. The net combined ratio reached 95.8%, rising by 0.5pps y/y. Vienna Insurance Group claims to be the market leader on the Slovak insurance market with a 32.7% share. The group owns three insurance companies in Slovakia - Kooperativa, Komunalna Poistovna and Poistovna Slovenskej Sporitelne.

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