VIG’s premium volume grows by more than 11%

Austria-based insurer Vienna Insurance Group AG’s total premium volume increased by more than 11% year-on-year to €3.45 billion ($3.6 billion) in the first quarter of the year, largely driven by motor third party liability, property and casualty and health insurance segments, Xprimm reported. The insurer, however, reported over 3% drop in pre-tax profits to almost €124 million, due to higher provisions made for losses related to the Ukraine war.