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SUMMARY OF TRIGLAV GROUP BUSINESS PLAN FOR 2022. Triglav Group plans to increase its written premium volume to over EUR 1.4 billion and its profit before tax to EUR 120–130 million, as well as to achieve a favourable combined ratio of below 93%. Triglav expects that its operations in 2022 will take place in a slightly improved, but still volatile and uncertain business environment. The greatest risks will continue to stem from the epidemic, and the region's markets will remain highly competitive and dynamic.

More information available in public announcement and and summary of plan.

OUTLOOK FOR 2023 (as at 22 Nov 2022). Expectations for 2023 are marked by a very high degree of uncertainty in the business environment, which stems from the further development of the geopolitical situation, the situation in the energy markets, the macroeconomic situation and the epidemic. In 2023, the Triglav Group anticipates the economic situation to become even more challenging, in which it will continue to operate safely and profitably. Andrej Slapar, President of the Management Board of Zavarovalnica Triglav, said: “In the challenging year of 2023, we plan to generate a profit before tax of EUR 95–110 million according to the existing reporting framework. Taking into account the currently available projections and the estimated economic situation, it is slightly lower than this year’s profit guidance. We also plan to increase business volume in 2023 and for gross written premium to reach EUR 1.5–1.6 billion. In addition, we will ensure a high level of profitability of the insurance business by reaching a combined ratio of below 94% in non-life and health insurance. As the leading insurance and financial group in Slovenia and the Adria region, we plan to further strengthen our position in the existing markets, while seeking opportunities in the EU markets directly according to the principle of free movement of services and through partnerships. We will continue to pursue cost streamlining, effective risk management, financial stability and to retain high credit ratings from recognised credit rating agencies. Our dividend policy remains unchanged, and we will strive to make the ZVTG share a profitable, safe and stable investment for investors. In our operations, we will consistently follow our strategic guidelines, focusing on a high-quality and uniform client experience, the further development of service-oriented business models and ecosystems that address the interrelated client needs, and the implementation of innovative processes using modern technology.”

The figures planned are based on outlook, expectations about events and circumstances, and forecasts available to the Company at the time of drafting the plan and the strategy. The actual results, performance and events may significantly deviate from those planned. For greater transparency and comparability with previous business data, the information for 2023 is given using the existing reporting framework. In 2023, this will change with the implementation of the new IFRS 17 accounting standard. The Group will provide adequate information on its effects on key performance categories.

 

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