VIG RE SEES GROWTH IN FIRST-HALF PROFIT

VIG Re, the reinsurance operation of Vienna Insurance Group, has reported a pre-tax gain of €10.8m for the first half, up 47.1% year on year. Premium volume was up 25% to €173.3m, of which 77% came from non-life, 15% from health and 8% from life business. The combined ratio for the half was 94.9%. Meanwhile VIG Re has announced the appointment of Karl Fink as CEO. He replaces Peter Hagen who is moving on to head Vienna Insurance Group.