Vienna Insurance Group (VIG) reported insurance premium billing totalling EUR 1.15bn in the Czech Republic in 9M 2016, down 3.1% y/y. Pretax profit dropped 9.3% to EUR 114.1m. The group’s combined ratio grew to 92.9% from 89.4%. The whole group saw premium billing grow 0.7% to EUR 6.96bn. Profit (before taxes) increased 88.4% to EUR 301.3m. VIG’s CEO Elisabeth Stadler has stated that the reported pretax profit is in line with the previously announced full-year outlook of EUR 400m.
Source: www.cianews.cz
