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Triglav Group Investor Presentation

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Sound Performance in 2018, Proposed Dividend of EUR 2.50

The operations of Triglav Group were consistent with its strategic guidelines as the Group generated a profit before tax of EUR 97.5 million (index 115) and increased return on equity to 10.8% (vs. 9.3% in 2017). Triglav Group exceeded the budgeted results, mainly thanks to the high premium growth, favourable claim ratio and several one-off events, which mostly occurred in Q4 2018. Gross premium written of EUR 1,068 million was higher by 7% over the 2017 year-end, whilst the Group recorded growth in all insurance segments and in all markets. The combined ratio of the Group was 91.8%. Returns on investment (excluding return on unit-linked life insurance) declined by 29% compared with 2017 as a result of persisting low interest rates on the financial markets.

In line with estimates, its capital adequacy as at the 2018 year-end was within the target range set in the capital management policy of the Group in accordance with the Solvency II methodology. Both the Supervisory Board and the Management Board will propose to the General Meeting of Shareholders the dividend payment of EUR 56,837,870.00 or EUR 2.50 gross per share, accounting for 70.3% of consolidated net profit for 2018.

Andrej Slapar, President of the Management Board of Zavarovalnica Triglav: “The proposed dividend is in line with our dividend policy, which is both sustainable and attractive. In a balanced manner, it ensures the long-term financial stability of the Group, its growth and development, as well as the payment of attractive dividends to the shareholders.”

In accordance with the financial calendar, the planned date of the regular General Meeting of Shareholders of Zavarovalnica Triglav, which will decide on the distribution of accumulated profit, is on 28 May 2019.

More information in Annual report for 2018 and Investor presentation.


Changes to the Management Board.

At its session on 28 March 2019, the Supervisory Board of Zavarovalnica Triglav agreed with the proposal of the President of the Management Board and appointed David Benedek a member of the Management Board of Zavarovalnica Triglav for a five-year term of office. In order to perform the function of a member of the Management Board of Zavarovalnica Triglav he is required to obtain an authorisation from the Insurance Supervision Agency. David Benedek has extensive international experience in the insurance and banking sectors, where he has held senior positions since 2001. Currently, he is the Authorised Officer of the Management Board of Zavarovalnica Triglav, while as a Management Board member he will be responsible for the management and development of subsidiaries in line with the strategic objectives of the Group. “We are the leading insurance/financial group, which combines 40 companies in six countries in our region. Their effective management, development and growth are of key importance to achieve our strategic objectives, and I believe that the new Management Board member will significantly contribute to this thanks to his expertise and many years of experience,” said Andrej Slapar, President of the Management Board of Zavarovalnica Triglav. 

 

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.”
 

Business Plan 2019 and Revised Strategy

Andrej Slapar, President of the Management Board of Zavarovalnica Triglav:Our guideline of growth and development has been strategically set and we believe it is the right one and we will not change it. The strategy has been revised particularly with the aim of defining the main focus of the Group’s operations even more clearly. The team of over 5,000 employees in the region is connected by the values of responsiveness, simplicity and reliability. We are entering 2019 with optimism and energy to continue developing the culture of engagement and our focus on the client, with the aim of achieving profitable and financially sound operations.

 

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

 

Triglav Analyst Conference

On 21 June 2018 Zavarovalnica Triglav held an analyst conference on Triglav Group under Solvency II in 2017 at the Triglav LAB innovation center. For more information see the attached presentation.

 

     

 

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