Plan and strategy

Comment on Triglav Group 2020 plan as at H1 2020: The spread of the coronavirus with the onset of the pandemic has brought about a deterioration in the macroeconomic environment and great volatility in global financial markets. The high level of uncertainty prevents us from giving a relatively reliable annual profit guidance this year (the profit before tax was planned between EUR 95 million and 105 million). We re-examined the bases and assumptions of the 2020 plan and confirm the assessment made in April that the annual profit before tax will likely be 10-25% lower than planned. Furthermore, we assess that the annual written premium and the combined ratio of the Group will be within the planned figures (around EUR 1.2 billion and below 95% respectively). We are closely monitoring the situation and assess that Triglav Group’s insurance and investment portfolios are sufficiently resilient and that the capital position is appropriate to effectively cope with the increased risks arising from the business environment due to the coronavirus pandemic.

Comment on Triglav Group 2021 plan: In view of the selected probable scenario of business conditions in 2021, Triglav Group plans to increase its consolidated gross written premium to EUR 1.2–1.3 billion and its profit before tax to EUR 85–95 million. The Group’s combined ratio is planned at below 95%, which is in the lower (favourable) end of the range of its average target strategic value of around 95%. The Group will operate in difficult and competitive market conditions impacted by the epidemiological situation at the global level, the scale of which still remains uncertain, while the financial markets will be affected by low/negative interest rates. With respect to development activities, the Group will pursue its vision to dynamically develop new ways of doing business by employing a client-centric approach as the foundation of the Group’s responsible long-term development, while at the same time operating profitably and safely.

More information available in public announcement and plan.


More information