Triglav Group, in cooperation with well-established partners Prima Assicurazioni and Ageas Re, is entering the Italian motor insurance market. This move is aligned with Triglav's strategic ambition to diversify its operations internationally, both in terms of business volume and profitability. According to initial estimates, the new business is expected to significantly increase Triglav's planned total business volume already in 2025, while its impact on Triglav's earnings will become materially significant in the coming years.

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The shareholders approved the Management Board's and the Supervisory Board's proposal to pay out a dividend of EUR 2.80 gross per share, which represents a 6% dividend yield. The ex-dividend date is Monday, 16 June 2025.

The General Meeting of Shareholders approved all proposals submitted by the MB and the SB. Andrej Slapar, President of the Management Board of Zavarovalnica Triglav, commented: "We thank our shareholders for their continued trust and support. This strengthens our commitment to pursue Triglav Group's strategic ambitions of growth, international recognition and profitable operations, while continuing to create value effectively for all our stakeholders."

 Shareholders, inter alia, granted discharge to both the Supervisory Board and the Management Board for 2024, appointed Andrej Andoljšek and Barbara Cerovšek Zupančič as Supervisory Board members, shareholder representatives and appointed the audit firm Deloitte as the auditor for the forthcoming years.

More information available in Notice of the Resolutions of the 50^th AGM.

• The Group's total business volume increased by 18% compared to Q1 2024, reaching EUR 553.7 million, primarily driven by a rise in gross written premium.
• The Group's earnings before tax rose by 25% to EUR 54.3 million, while net earnings increased by 26% to EUR 46.1 million.
• The Group reaffirms its annual profit guidance for 2025, taking into account the expected business conditions for the remainder of the year.
• The Group's capitalisation remains within the target range of 200–250%.

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The Company’s Management Board hereby convenes the 50th General Meeting of Shareholders of Zavarovalnica Triglav d.d., to be held on 3 June 2025 at 10:00 a.m. in the Diamant Hall of the Grand Plaza Hotel, Slovenska cesta 60, 1000 Ljubljana.

More information available in the notice.

The Management Board and the Supervisory Board of Zavarovalnica Triglav will propose to this year's General Meeting of Shareholders a dividend of EUR 2.80 gross per share, totalling EUR 63.7 million, representing a 60% increase compared to last year. The proposal currently reflects a dividend yield of 6% on the ZVTG share, surpassing the expected average dividend yield of European insurance companies' shares for this year.

Andrej Slapar, President of the Management Board of Zavarovalnica Triglav, said: "Our goal is to ensure that Triglav's share remains a stable, profitable and safe investment that meets shareholders’ expectations, including through its dividend yield. The Management Board and the Supervisory Board propose a dividend payout of approximately half of the consolidated net earnings recorded last year. This year's dividend would therefore exceed last year's by 60%, which was affected by the Group's lower results in the exceptionally challenging year 2023. In their proposal, the Management Board and the Supervisory Board have carefully balanced all objectives of the dividend policy, including the Group's ambitions for development and growth. To achieve this, opportunities beyond organic growth will also be explored. The proposed dividend payment makes it possible to maintain the Group's target capital adequacy in the medium term, even as capital requirements rise in line with its ambitious growth plans."

The Company is expected to announce the convening of the regular General Meeting of Shareholders on 24 April 2025, scheduled to take place on 3 June 2025.

More information available in public announcement.

On March 28, 2025, Triglav Group hosted the Capital Markets Day 2025 event in Bled, where we presented our strategic ambitions until 2030 to investors, shareholders and analysts.

Triglav Group: Very strong results achieved in 2024, with further profitable operations and business volume growth planned for 2025

In 2024, the Triglav Group exceeded its targets and achieved earnings before tax of EUR 159.0 million, with net earnings amounting to EUR 131.4 million. By 2030, its strategic ambitions are to double its earnings and significantly increase both its business volume and assets under management.

More information available in public announcement, public announcement about SFCR, annual report and investor presentation.

According to unaudited data, the Group's total business volume in 2024 reached EUR 1.72 billion, exceeding the target of around EUR 1.60 billion. In addition to strong results in both insurance and asset management, operations benefited from favourable financial market conditions, relatively favourable claims development and one-off events, particularly in the Health segment. The Group's earnings before tax reached EUR 159.0 million, while net earnings stood at EUR 131.4 million. The combined ratio for the Non-Life and Health segments was better than planned, at a favourable 93.6%. Despite ongoing uncertainty surrounding future inflationary expectations and competitive market conditions, the Group further strengthened its dominant position in the Slovenian and the Adria region insurance markets. Its solid capitalisation, strong performance and positive outlook were reaffirmed by a high "A" credit rating, with an upgraded positive outlook for the medium term. In 2025, the Group is ambitiously entering a new strategy period to 2030, with plans to double total business volume, earnings before tax and assets under management over the period.

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To ensure continued profitable, save and sustainable operations, the Group has adopted its business plan for 2025 and upgraded its business strategy to 2030. In 2025, the Group projects earnings before tax of EUR 130–150 million (net earnings of EUR 100–120 million) in the ordinary course of business. Its strategic ambition is to double it to EUR 250–300 million by 2030. The Group positions itself as a stable, safe and profitable investment for investors.

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In the first nine months of 2024, the Triglav Group's earnings before tax stood at EUR 124.7 million (9M 2023: EUR –10.1 million) and its net earnings amounted to EUR 106.8 million (9M 2023: EUR –9.6 million). The Group achieved strong performance across all business segments. The total business volume reached EUR 1,305.4 million, a 4% year-on-year decline. However, when factoring in the effect of the shortfall in supplemental health insurance premium in Slovenia, it recorded an 8% growth. At the end of the first nine months, the Group reaffirmed its annual earnings before tax forecast of EUR 130–150 million, which includes the compensation received from the state. The Group continues to maintain its financial stability and capitalisation within the target range.

More in the notice.