May 24(Reuters) - Vienna Insurance Group reported a 22.5 percent fall in first-quarter pretax profit to 101.5 million euros ($114 million) hurt by low interest rates, Austria’s largest insurer said on Tuesday.
Gross written premiums fell 1.8 percent to 2.71 billion euros.
Analysts polled by Reuters had on average expected pretax profit of 103 million euros on gross written premiums of 2.721 billion euros.
Chief Executive Elisabeth Stadler confirmed the company’s full-year earnings target of doubling 2015 pretax profit to up to 400 million euros.
$1 = 0.8911 euros Reporting by Sylwia Lasek; editing by Jason Neely