Strategy and Plans of the Triglav Group

  • The Triglav Group is actively developing into a modern, innovative and dynamic insurance/financial group, which firmly remains the leader both in Slovenia and the wider region.
  • The budgeted profit level for 2017 was surpassed.
  • In 2018, profit before tax of the Triglav Group is planned between EUR 80 million and EUR 90 million, whilst gross written premium is set to exceed EUR 1 billion. 

The Triglav Group Strategy for the 2017–2020 period was adopted in December 2016. It is a development-oriented strategy, with its main focus on comprehensive client relationships while maintaining the profitability and safety of the Group’s operations and being committed to sustainable and responsible development.  

Strategic objectives

Strategic objectives were classified into four balanced scorecard strategy levels:

Financial operations
Processes and organisation
Employees, competences and learning
  • Profitable operations 
  • Growth in the volume of operations (in terms of written premium, the Triglav Group remains the largest insurance company in South-East Europe) 
  • Maintaining the »A« credit ratings 
  • Capital adequacy and optimal capital allocation by segment/subsidiary of the Group 
  • Comprehensive risk management
  • Comprehensive and responsible client relationship management and multi-channel communication with clients 
  • Satisfied and loyal clients 
  • Growth in the number of active clients, their understanding of the Group’s services and higher insurance coverage of individual clients
  • Insurance products with a high degree of related services
  • New business models
  • A high degree of automation, optimisation and cost-effectiveness of business processes 
  • The digital way of doing business and new business processes 
  • Developed multi-matrix organisation and business productivity growth 
  • Efficient use of data (internal and external) so as to make the right business decisions 
  • Innovation 
  • Exploitation of synergies within the Group
  • Simplicity of business processes and cost efficiency
  • Renewed organisational culture (openness, acceptance of changes and promotion of diversity, orientation to internal and external clients, ensuring cooperation outside the formal organisational forms, respect for diversity and dignity and taking responsibility) 
  • An appropriate number, structure and commitment of employees to renewed and optimised processes 
  • Adequate competences and digital skills of employees 
  • Stability and appropriate structure of key promising employees
  • Employee mobility

Implementation of the Triglav Group Strategy in 2017

To realise the adopted strategic guidelines, the Group continued the work started in previous years and launched several new projects. In the first year, tangible results were achieved in some areas, whereas in relation to more extensive projects quality foundations for further work were laid.

  1. Profitable operations and greater value of the Group
  • In the reporting period, the Triglav Group generated a profit before tax of EUR 84.4 million.
  • Increased volume of operations was seen in all business segments of the Group. 
  1. Efficient asset management 
  • The launch of the new IT system for improved capital and asset-liability management.
  • Continued gradual centralised asset management at the Group level. 
  • Establishment of a regional platform for alternative investments (Trigal). 
  1. Comprehensive client relationships
  • Adaptation of the management of all segments of both activities (non-life, life, health and pension insurance, reinsurance and asset management). 
  • The continued development of online and mobile sale as well as other alternative sales channels (via banks, travel agencies and leasing houses). 
  • The revised client satisfaction and loyalty measurement and the introduction of in-depth client analyses. 
  • The upgrade of the existing products and the development of new, more flexible and understandable products.
  • Further upgrade of products with assistance services. 
  • The introduction of paperless, mobile and simple business with clients and partners as well as the digitisation of business processes.
  • The launch of interdisciplinary activities so as to achieve synergies in different areas at the Group level. 
  • The transfer of business solutions and practices to the Group members, which are adapted to the specificities of each market. 
  • The development of a business model for the digital entry of the Group to the selected markets outside the region. 
  1. Transformation of operations 
  • The Business Intelligence (BI) Department was established, which is in charge of the data warehouse, the reporting system and analytical support to business decisions. 
  • Completed multi-annual project of constructing the data warehouse in the parent company and its expansion at the Group level. 
  • The geographical information system of the parent company was upgraded and integrated into risk underwriting, reinsurance and claim settlement. 
  • Established project bases for centralised management of information technology and infrastructure in the Group.
  1. Development of a modern culture and dedicated staff
  • The analyses were carried out and the foundations were laid for the project of renovating the organisational culture within the Group.

Plans of the Triglav Group for 2018

Financial highlights of the Triglav Group business plan for 2018 (in EUR million)





2018 plan

Profit/loss before tax





Gross written premiums form insurance, co-insurance and reinsurance contracts




over 1,000

Combined ratio




around 95%

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