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Triglav Group Investor Presentation

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In Q1 2018 Profitable Operations and Premium Growth in all Markets of the Group

Andrej Slapar, President of the Management Board of Zavarovalnica Triglav: “We are pleased with the results achieved in the first quarter. 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. We have observed that the growth in the volume of operations in the insurance markets of the region has continued to be positive; however, at the same time we have to take into account strong competition on these markets. In line with our strategy, our products and services are being developed and tailored to meet client needs and the specificities of individual markets. With a team of over 5,000 employees, we are not only further strengthening our existing strong competitive advantages but also carrying out intensive sales activities.

 

1Q 2018 profit before tax stood at EUR 27.5 million, up by 8% compared to the same period last year, while net profit totalled EUR 23.3 million or 5% more compared to Q1 2017. The Triglav Group booked a 4% higher consolidated gross written premium totalling EUR 293 million, recording premium growth in all markets of the Group. The performance of the Group in the first three months of 2018 was not affected by any mass loss events. According to expectation, return on financial investments was lower compared to the same period last year. The Triglav Group, the leading insurance/financial group in the Adria region, has continued to implement its strategic guidelines in 2018. In accordance with its development and growth strategy, last year the Group entered the voluntary pension insurance market in Bosnia and Herzegovina and the Macedonian life insurance market, while this year the Group is entering the pension insurance market in Croatia by acquiring the majority stake in a pension insurance company.

 

43rd General Meeting of the Shareholders of Zavarovalnica Triglav 

(See Notice  and the Ljubljana Stock  Exchange announcement)

  • Convening of AGM on: Tuesday, 29 May 2018, at 10:00 a.m.
  • Shareholders attendance form
  • Proposed amount of dividend: EUR 2.50 gross per share
  • Date of record in the register of shareholders, to establish entitlement for dividends: Wednesday, 13 June 2018
  • Ex dividend date: Tuesday, 12 June 2018
  • The company will ensure funds for payment of all dividends on the account of KDD on: Thursday, 14 June 2018
  • The right to participate and vote at the AGM: Held by the shareholders registered as owners per the share register kept by KDD at the end of 25 May 2018, and who have notified their participation to Zavarovalnica Triglav, with a completed application form until the end of 25 May 2018

 

Business Plan of the Triglav Group for 2018

The Group plans to generate between EUR 80 and 90 million in profit before tax and earn a total of over EUR 1 billion in consolidated gross written premium, while the combined ratio target is set at a favourable level of around 95%. In 2018, the Group's operations are expected to be marked by an improved macroeconomic situation in the region, increased competitiveness in insurance markets and further lower return on investment on account of low interest rates. The Group’s goal is to continue with the consistent implementation of the 2017-2020 Strategy in order 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.

 

More information in Business Plan 2018.