In the challenging operating conditions, the Triglav Group performed well and ended the first nine months of 2016 with a net profit of EUR 54 million (the parent company: EUR 48 million) and generated a profit before tax of EUR 68 million (the parent company: EUR 60 million).
In the first nine months of 2016, the Triglav Group posted a total of EUR 721 million in consolidated gross insurance and co-insurance premiums or EUR 2 million more than in the respective period of 2015 (taking into account the sale of the Czech subsidiary in 2015, the Group recorded a 2% premium growth). Compared to the respective period of 2015, the Triglav Group charged 0.3% more premium in Slovenia, which is at the premium growth level of the Slovene insurance market as a whole. Compared to the same period last year, the average premium growth of the Triglav Group on markets outside Slovenia was 9%.
Andrej Slapar, President of the Management Board of Zavarovalnica Triglav d.d., said: “We are satisfied with our solid performance in 2016 as we have achieved profitability and maintained the financial strength of the Triglav Group. We are the Slovene company with the highest credit ratings in the country, as this year both credit rating agencies, i.e. S&P Global Ratings and A.M. Best, raised our credit ratings from “A–” to “A” with a stable medium-term outlook. Our strategic guideline is to focus on the core insurance business of the Group, which has already yielded good results. Our performance in the Slovene insurance market and other markets outside Slovenia, which foremost offer opportunities for premium growth, was solid and in line with our expectations. Returns on investment in the record-low interest rate environment were low, as expected. Taking into account the business conditions anticipated until the end of the year, we estimate that the annual profit before tax of the Triglav Group will be within the planned range.”
Triglav Group Receives Gold Plaque for Best Investor Relations in 2016 in Adria region
As many as 25 companies participated in the selection of the company with the best investor relations, which were also participants of the 6th Regional Investment Conference organised by the Belgrade Stock Exchange and the WOOD & Company investment bank. The analysis was performed based on the 35 selection criteria of openness of the companies to the investing public. The expert jury of the Belgrade Stock Exchange, which was composed of four analysts and a university professor, analysed the obtained results and decided to award the 2016 Gold Plaque for Best Investor Relations to Triglav Group. More info …