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Vienna Insurance Q3 pretax profit, premiums drop

VIENNA, Nov 28 (Reuters) - Third-quarter profit before tax at Vienna Insurance Group fell 22 percent, it said on Thursday, weighed down by tough markets in Romania and problems at its motor insurance business in Italy.

Emerging Europe's biggest insurer generated pretax profit of 110 million euros ($149.3 million) as premiums dropped 6 percent to 2.02 billion euros. Its combined ratio - a key measure of profitability - deteriorated to 102.3 from 97.6 a year earlier, the company said.

Analysts polled by Reuters had on average expected profit before tax to fall by 27 percent to 104 million euros on steady premiums of 2.15 billion.

($1 = 0.7367 euros) (Reporting by Michael Shields; Editing by Georgina Prodhan)