The Slovenia Times

Triglav Insurance Group Profit Up 23% to EUR 87.7M


The group's profit surpassed plans by 31%, the company said, attributing this to extremely high returns on financial investments. These increased by 285% compared to 2013 at level of the core company and by 138% at group level.

The net profit of the core company amounted to EUR 45.6m, a 6% decrease on 2013.

Compared to 2013, the group recorded a 1% decrease in written premiums while the written premiums for Zavarovalnica Triglav were down 2%.

According to Slovenia's largest insurer, "a decline in the purchasing power of households and the economic activity was still present on the insurance market".

Gross claims paid by Zavarovalnica Triglav remained approximately on par with 2013 figures, while gross
claims paid by the group decreased by 2%.

The most damage was caused by the February ice storm, which resulted in over 1,550 reported claims totalling at EUR 12.7m.

The Triglav group's total balance sheet assets stood at just under EUR 3.3bn at the end of 2014, which is 6% more than the year before. The core company achieved 8.7% return on capital and the group 13.4%.

Commenting on the results, Zavarovalnica Triglav chairman Andrej Slapar spoke of excellent results and greater financial stability despite a demanding year.

"In 2015, we ambitiously plan to consolidate and increase business results of the insurance subsidiaries and other companies in the Triglav group," he added.


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