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Triglav Group Investor Presentation

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Business Plan for 2020

In 2020, Triglav Group will continue to implement the guidelines of its business strategy. Considering the anticipated business conditions, the Group plans:

  • consolidated written gross premium to around EUR 1.2 billion (2019 plan: around EUR 1.1 billion)
  • profit before tax to EUR 95–105 million (2019 plan: EUR 90–100 million),
  • combined ratio is planned below 95%, which is in the lower end of the range of its average target strategic value of around 95%.

With respect to development activities, the Group will pursue its vision, which is based on a client-centric approach, 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.

Andrej Slapar, President of the Management Board of Zavarovalnica Triglav: We assessed that the insurance markets in the region will continue to grow next year, however we expect the situation to be somewhat more challenging due to the slight deterioration in economic growth outlook. We also expect that the historic low interest rate environment will continue. This has been duly taken into account in our plans, as has the consistency of the implementation of our planned development activities in 2020. In view of the above, profit before tax will be higher compared to the 2019 plan. In addition, the volume of premium, which has been on the rise for the last five years, will be higher. Maintaining the financial strength of Triglav Group and appropriate risk management remain our priority, as the Group's safe and profitable operations are crucial for its clients, shareholders, employees and other stakeholders. We are entering 2020 prudently but with energy and determination to achieve our objectives. I believe that our team of over 5,000 employees will be successful in this.”
 

More information available in Plan for 2020 and Strategy 2019 – 2022.
 

Triglav Group with reaffirmed high “A” credit ratings in 2019

Both credit rating agencies S&P and AM Best in 2019 reaffirmed high credit ratings “A” with stable medium-term outlook.

According to S&P, the reaffirmed high ratings reflect Triglav Group’s leading position in the Slovene insurance and asset management market, its position and strengthening in the markets of the region. S&P emphasizes the Triglav’s stable and profitable operations, adequate risk profile and strong capital adequacy. According to AM Best, Triglav Group’s balance sheet strength is based on Triglav Group’s risk-adjusted capitalisation, which is at its strongest level. The Group has a prudent reserving approach and good financial flexibility with access to equity and bond markets, which was also reflected in the subordinated bond issued this year. Its strong operating performance over the recent years has been driven by the excellent non-life insurance technical earnings in the domestic market and healthy investment income, even though it continues to be impacted by the low interest rate environment, the situation in the life insurance segment and intense competitive conditions on the markets of the region. AM Best pointed out the advantages of the Group’s dominant position both in the Slovene market and the region. Triglav Group has a well-diversified portfolio by both product and geography. Moreover, outside of Slovenia Triglav continues to demonstrate improvement in earnings on the basis of additional scale and actively seeking alternative lower cost distribution channels. Please find more information here
 

Triglav Group Confirms its Annual Profit Guidance

In the first nine months of 2019, Triglav Group posted a consolidated profit before tax of EUR 72.0 million or 3% more than in the same period last year. Andrej Slapar, President of the Management Board of Zavarovalnica Triglav d.d., said: We are satisfied with our performance and the results achieved in the first nine months of 2019. We operate in very challenging conditions in the financial markets; however, the underwriting discipline and the growing volume of business enable us to effectively achieve the set objectives. Taking into account the business conditions anticipated until the end of the year, we confirm our annual profit guidance. « 

 

More information available in 9M 2019 report and IR presentation.

 

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.”