VIG Re: Increase In Profits

Businessn.a. ♦ Published: April 5, 2012; 13:36 ♦ (Vindobona)

Vienna Insurance Group Re posted results. The re-insurer said it raised pre-tax profit by 11.1 percent to € 20.6m, and premium volume by 4.2 percent to € 292.3m.

VIG Re: Increase In Profits / Picture: ©

Property/casualty insurance accounted for 78 percent of gross written premiums, the health segment for 14 percent, and life insurance for 8 percent. The combined ratio for 2011 was 95.8 percent.

“VIG Re is going from strength to strength despite the challenging operating environment we are currently facing,” commented VIG Re CEO Karl Fink. “We have seen significant rises in…