VIG P&C business returns to profit

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The P&C book at the insurer saw pre-tax profit of €146.6m (£126.7m) in 2016, up from minus €75.7m in 2015. This follows the group posting an 88.4% rise in pre-tax profits in the third quarter of last year. Gross written premium for the segment rose from €4.87bn to €4.59bn. The group as a whole, including life and health, achieved a combined operating ratio of 97.3%, and saw premiums rise to €9.1bn. “We have achieved all our major targets for 2016,” said Elisabeth Stadler, CEO of VIG. “