February 28, 2017 / 7:25 AM / 5 months ago

BRIEF-Vardia Q4 loss from operations narrows to NOK 41.4 mln

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Feb 28 (Reuters) - Vardia Insurance Group ASA:

* Q4 gross premiums written declined to 177.1 million Norwegian crowns ($21 million)(246.1 million crowns), due to a planned reduction in sales activities

* Q4 loss from operations was 41.4 million crowns (loss of 138.1 million crowns year ago), negatively impacted by non-recurring items

* Expects continued stable demand for general insurance products in short and medium term

* Insr will remain committed to complete ongoing restructuring process in 2017

* Says restructuring process will generate significant savings from 2017, as well as increased profitability

* Ongoing portfolio pruning and maturation of insurance portfolio are expected to improve loss ratio throughout 2017 Source text for Eikon:

Further company coverage: ($1 = 8.3580 Norwegian crowns) (Gdynia Newsroom)

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