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Triglav Group Investor Presentation

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Premium and profit growth in Q1 2019

In Q1 2019, Triglav Group posted a profit before tax of EUR 29.9 million (index 108 y-o-y). It was influenced by the sound performance of the insurance business and higher net gains on the sale of financial assets. Andrej Slapar, President of the Management Board of Zavarovalnica Triglav, said: “We are pleased with the performance in the first three months of 2019. Taking into account the business conditions anticipated until the end of the year, we confirm our annual profit guidance.

 

Group achieved an 8% growth in consolidated gross written premium totalling EUR 317 million in the reporting period. Premium growth of Triglav Group in the most markets of Triglav Group exceeded the growth of the whole market. In Slovenia, where Triglav collects 76% of consolidated premium, average premium growth stood at 6% (market growth was 5%) and 10% in the markets outside of Slovenia. Gross claims paid totalled EUR 166 million, down by 3% y-o-y. They were not significantly affected by major CAT events.

 

As at the reporting date, the Group’s financial investments totalled EUR 3.2 billion. The rates of return on investment (excluding the rates of return on unit-linked life insurance contract investments) equalled EUR 33.5 million. Compared with 2018, they increased due to higher net gains on the sale of financial assets. Net interest income continued to decrease due to the low interest rate environment.

 

In 2019, in line with the strategic guidelines of strengthening the asset management business, Triglav Group established in Macedonia’s market Triglav penzisko društvo AD, Skopje, a company for the management of compulsory and voluntary pension funds. In Slovenia, it successfully completed the acquisition of the asset management company ALTA Skladi. Through its two asset management companies, Triglav Group is becoming the leading provider of mutual funds in the Slovene market. 
 

Notice of the AGM of Shareholders

to be held on 28 May 2019 at 14:00 in Conference Hall B1, Verovškova ulica 60b, Ljubljana. The material is available at Information for shareholders.


Attendance at the General Meeting of Shareholders: Dear shareholders, you are kindly invited to attend the General Meeting of Shareholders. You are required to confirm your attendance or the attendance of your proxy in advance as stated in the material. You may also use the forms available here.
 

Organised collection of proxies: Dear shareholders, should you be unable to attend the General Meeting in person, please appoint one of the proxies to vote on your behalf. A letter with enclosed individualised voting proxy forms has been sent at your address.
 

Issue of a New Subordinated Bond

Zavarovalnica Triglav has successfully issued a 30.5-year subordinated bond (Tier 2 pursuant to the Solvency II regulations) with the first call date after 10.5 years, More information in announcement.
 

Business Plan 2019 and Revised Strategy

More information in Plan for 2019 and Strategy 2019 – 2022.

 

Market Maker of Triglav’s Share

Zavarovalnica Triglav entered into an agreement with the LJSE member firm InterCapital Securities, which will perform the market-making service for the ZVTG share. The provision of the market-making service will start on 1 February 2019. This new service complements other investor relations activities that are systematically performed by Zavarovalnica Triglav. Andrej Slapar, President of the Management Board of Zavarovalnica Triglav d.d. commented: “Triglav systematically performs a series of investor relations activities with the aim to further increase the liquidity of our shares and create additional value for our shareholders. Our endeavours will now be supported by the market-making service for our shares. Until recently, this service was not performed on the Ljubljana Stock Exchange and we are pleased that the member firm InterCapital Securities will now provide it to us.”