The credit rating agencies S&P Global Ratings and A.M. Best confirmed the Group’s “A” credit rating with a stable medium-term outlook.
Andrej Slapar assesses the achieved business results and developments on all markets, as well as presents the expectations and future steps in the region where the Triglav Group consolidated its position.
ReadUroš Ivanc, Tadej Čoroli, Barbara Smolnikar and Marica Makoter under the leadership of Andrej Slapar on key achieved and planned objectives. Watch the video.
Total written premium of the Triglav Group was higher than planned despite the challenging market conditions and fierce competition. The Group and Zavarovalnica Triglav booked 7% and 5% more premiums respectively.
The Triglav Group’s performance was solid. The Group implemented the set strategic objectives in the challenging situation on financial markets and in demanding market conditions, while also dealing with mass loss events. The Group’s profit before tax reached EUR 84.4 million and thus surpassed the budgeted net profit.
The combined ratio of the Triglav Group was 93.9%, which is within the expected target range. The combined ratio is a measure of profitability in the core non-life and health insurance operations excluding investment return.
The reporting year saw several extraordinary mass loss events as a result of natural disasters in Slovenia, Croatia and Macedonia. Claims were 59% above the last five-year average and 22% above the last ten-year-average. Gross claims paid of the Triglav Group increased by 6% compared to 2016.
