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Sound Performance in H1 2017

Andrej Slapar, President of the Management Board of Zavarovalnica Triglav d.d., said: “We are satisfied with our performance in the first half of 2017. 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. The Group started 2017 with a clearly outlined strategy. Our vision is to dynamically develop new ways of doing business as the foundation of the Group’s responsible long-term development, while at the same time operating profitably and safely. Half of the year is behind us and it was marked by a number of activities set out in our strategy. We will continue with our work, and I am convinced that the energy and commitment of the Group’s more than 5,000 employees are a strong guarantee for achieving our plans to the benefit of the Group’s many shareholders, employees and other stakeholders.”

 

The Triglav Group ended the first half of 2017 with a profit before tax of EUR 42.2 million and with a net profit of EUR 36.1 million. The Group is well capitalised as shown by its capital adequacy ratio of 246% as at the 2016 year-end.

 

In the first six months of 2017, the Group’s premiums totalled EUR 547.8 million, which is 8% more than in the respective period of 2016. In non-life insurance segment, premium was up by 8%, whilst the life insurance and health insurance segments experienced a premium increase of 6% and 14% respectively. In the reporting period, the Group performed well on all markets. The average premium growth on the Slovene market was 7% and on the markets outside of Slovenia it stood at 12%.

 

Gross claims paid totalled EUR 314.2 million (4% growth), primarily as the result of the increase in the insurance portfolio and higher claim frequency. The Group’s performance was affected to a certain extent by mass loss events, which amounted to EUR 13.1 million. Despite the increase in the claims ratio, the Group’s combined ratio reached was favourable at 95.5%, which corresponds to its average target value in the strategy period.

 

In the challenging conditions on capital markets, the Group managed its financial investments totalling EUR 3,062.5 million in accordance with its relatively conservative investment policy. Compared to the year before, returns on financial investments rose by 13% also as the result of some one-off events in 2016 and this year.

 

 

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 …