6/3/2024
2023: Results under the impact of one-off events, operations expected to normalise in 2024

According to unaudited data, in 2023 the Triglav Group's total revenue rose by 12% to EUR 1,780.2 million, while its earnings before tax amounted to EUR 21.1 million. Earnings are in line with the mid-year estimate published by the Group due to one-off events, in particular the regulated price of supplemental health insurance in Slovenia and record high CAT claims, the impact of which on the Group's operations was limited by adequate reinsurance protection. Due to these circumstances and inflationary pressures affecting claims and expenses, the combined ratio of Non-Life and Health segments increased to 101.6%. The Triglav Group maintained its capital strength and stability, which was confirmed by the re-affirmed high "A" credit ratings with a stable medium-term outlook. It consistently carried out its strategic development activities and achieved its sustainable ambitions. In 2024, the Group anticipates that business conditions will return to normal and plans a total business volume (taking into account the impact of the discontinuation of supplemental health insurance) of around EUR 1.6 billion, earnings before tax of EUR 100–120 million and a combined ratio of Non-Life and Health segments of around 95%.

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30/11/2023
Interim financial report of the Triglav Group for January–September 2023 and plans for 2024

Triglav Group increased its business volume by 12% to EUR 1,390.1 million in the first nine months of 2023, maintained its financial strength and its dominant market position in both Slovenia and the Adria region. The results were impacted by one-off negative events this year, mainly major CAT claims and the loss due to the price regulation of supplemental health insurance, and additionally by inflationary pressures on claims and costs. The Group's nine-month earnings before tax were EUR –11.8 million. The Group confirms the estimate already announced at the half-year that the annual earnings before tax would be around 80% lower than originally planned, provided that the claims development remains within expectations until the end of the year. In 2024, the Group expects its operations to normalise in line with its strategic guidelines and plans earnings before tax of EUR 100–120 million. The Group's total business volume is planned at around EUR 1.6 billion and the combined ratio of non-life and health insurance at around 95%. The Group has consistently pursued its strategy with the aim of realising growth, development and its sustainable ambitions.

More in the notice.

6/6/2023
The 48th General Meeting of Shareholders of Zavarovalnica Triglav

On 6 June 2023, at the 48th General Meeting of Shareholders of Zavarovalnica Triglav d.d., the shareholders passed the Management Board's and the Supervisory Board's proposal to allocate EUR 56.8 million for dividend payment or EUR 2.50 gross per share. This represents more than 50% of the Triglav Group's net profit for 2022 and a 7% dividend yield. The dividend will be paid to the shareholders appearing in the Company's share register on Tuesday, 20 June 2023 (the ex-dividend date is Monday, 19 June 2023). Andrej Slapar, President of the Management Board of Zavarovalnica Triglav, said: “I thank the shareholders for their trust. With regard to the dividend payment, we are pleased that after years marked by the effects of the pandemic we can once again implement the dividend policy as we have outlined it. This means that its implementation is sustainable in terms of growth, development and financial stability of the Triglav Group as well as attractive for our shareholders."

More information available in Notice of the Resolutions of the 48th AGM.


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