History

The History of Zavarovalnica Triglav – 120 years of tradition

For the Triglav Group, a source of inspiration has been its 119 years in the insurance industry. Vzajemna zavarovalnica, a Ljubljana mutual insurer, from which Zavarovalnica Triglav, d.d., gradually evolved, was established in 1900.

Zavarovalnica Triglav history page
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1900
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1902

THE FOUNDING YEARS

The founding meeting of Vzajemna zavarovalnica took place on 5/7/1900 in Ljubljana as the first Slovene insurance company founded with domestic capital. Initial capital of 100,000 former Austrian crowns (kronen) was provided by Anton Bonaventura Jeglič, the Bishop of Ljubljana.

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FIRST NOBEL PRIZES AWARDED

25% of the total cars sold were electric vehicles. The first Nobel Prizes were awarded in 1900.

1903
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1918

THE BEGINNINGS

In its early years, Vzajemna met with great dislike from competitive insurance companies. In response to its establishment they lowered their premiums, expanded their agent networks, raised agent commissions, etc. Moreover, they convinced reinsurers not to provide their services to Vzajemna, which is why it was forced to seek reinsurance in Bohemia.

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FIRST AIRPLANE FLIGHT IN HISTORY

In 1903, the Wright Brothers made the first successful airplane flight and the first car registration plate A1 was issued in England. In 1913, the world’s first assembly line opened at a Ford plant.

1919
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1944

YEARS OF GROWTH AND EXPANSION

At the end of World War One, Vzajemna zavarovalnica was facing high inflation and portfolio losses. In order to survive, it had to introduce new insurance products. In 1919 it issued the first life insurance policy, in 1926 it introduced glass insurance, in 1930 burglary insurance and in 1931 suretyship, accident and comprehensive car insurance.

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BETWEEN THE TWO WORLD WARS

With the opening of the Versailles Peace Conference in 1919, the First World War officially ended. Einstein’s Theory of Relativity was officially confirmed the same year.

1945
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1961

CENTRAL GOVERNANCE

By a special ordinance in March 1945, the nationalised insurers were merged into the National Insurance and Reinsurance Institute, which was in 1946 renamed the National Insurance Institute and operated until 1947 Having avoided incorporation into the National Insurance and Reinsurance Institute, on 16/7/1945 Vzajemna changed its name to the Insurance Institute of Slovenia FPRY.

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AFTER SECOND WORLD WAR

The Second World War ended. UNICEF was established in 1946.

1962
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1967

A PERIOD OF DECENTRALISED INSURANCE

In this period, the National Insurance Institute was formally closed down, creating apparent competition between the fourteen independent insurance companies which emerged from its subsidiaries in Slovenia and the Insurance Community for the PR Slovenia. But in reality the monopoly, the mandatory insurance of social property and centralised risk equalisation continued to exist.

In 1962, the satellite Telstar relayed the first live trans-Atlatntic television signal.

1968
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1976

BUSINESS INSURANCE

The realisation that a larger insurance company was needed for sound risk equalisation soon led to the merger of smaller insurance companies from Slovenia and Croatia into two commercial insurers: Zavarovalnica Sava, based in Ljubljana, and Zavarovalnica Maribor, based in Maribor, both operating according to free market principles.

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The year 1968 was marked by student protests accross Europe.

1977
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1990

THE LIBERALISATION OF THE INSURANCE INDUSTRY

In 1976 the Law on the Foundations of the Non-life and Life Insurance System was passed, starting a period of liberalisation of the insurance industry without insurance oversight, which lasted until 1990.

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FALL OF THE BERLIN WALL

In 1977, the GPS system was presented. The liberalisation of Easteren Block countries in 1989 culminated in the fall of the Berlin Wall.

1990
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1999

TRANSFORMATION INTO A PUBLIC LIMITED COMPANY AND EXPANSION OF BUSINESS

In 1990, the Triglav Insurance Community (Zavarovalna skupnost Triglav) was transformed into a public limited company. On 12/12/1990, Zavarovalnica Triglav, d.d., was founded and began operating as an insurance public limited company on 1/1/1991. Thus, the insurance community became a business entity whose objective was to provide insurance services for profit.

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BEGINNINGS OF THE INTERNET

Tim Berners Lee created the first webpage in 1990. One year leater, Slovenia became an independent state.

2000
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2007

INTENSIVE INTERNATIONALISATION AND EXPANSION OF THE GROUP

In 2000 Zavarovalnica Triglav, d.d., began intensive business expansion. That year it also entered banking sector by acquiring a majority stake in Abanka, d.d., and started to broaden its operations into foreign markets.

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HUMAN GENOME DECODED

The Slovene national football team played in the Euro 2000 European Championship. The first draft human genome sequence was published the same year.

2008
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2020

LISTING ON THE STOCK EXCHANGE

In 2008 the shares of Zavarovalnica Triglav, d.d., were first quoted on the Ljubljana Stock Exchange. The same year the company was awarded an “A” rating by the Standard & Poor's Rating Services. In the year 2013 Triglav Group was assigned also rating by AM Best. Since 2009 Zavarovalnica Triglav, d.d., has been focused on the profitability of core business, careful selection of insurance risks, consolidation of business functions and transfer of knowledge, with an aim to make full potential of the existing markets. All along this has been underpinned by continued development of effective risk management system.

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GLOBAL FINANCIAL CRISIS

The year 2008 witnessed the beginning of a global financial crisis.
 

In 2012, the skydiver Felix Baumgartner became the first person to break the sound barrier without vehicular power.


Exceptional achievements of the Slovene ski jumper Peter Prevc in 2013–2016:

  • two Olympic medals, silver and bronze, won at the 2014 Winter Olympics in Sochi;
  • the world record in ski jumping (250 meters), set in Vikersund, Norway;
  • three small Crystal Globes in ski jumping;
  • one big Crystal Globe in 2016;
  • named the Slovene Sportsman of the Year for four consecutive years and awarded the Golden Order of Merit of the Republic of Slovenia for outstanding achievements in sport, his contribution to the promotion of Slovenia in the sports world and for being an inspiration to young people.