Insurance group Vienna Insurance Group increased its gross written premiums in Romania by 21.7% reaching EUR 100.3 million in the first three months of the year.

Premiums for damages and accidents rose by 21.8%. Life insurance premiums went up by 21.1% to EUR 16.6 million.

The increase was due to the partnership with BCR, the local subsidiary of Erste Group, for the distribution of unit-linked premiums.

The company recorded in the first quarter of the year a net profit of EUR 1.8 million.

“The restructuring measures in Romania have paid off,” reads the press release.

At a group level, the gross premiums underwritten by VIG increased by 0.9% to EUR 2.8 billion.

editor@romania-insider.com