- The Triglav Group and its parent company operated at a profit and surpassed the planned business results.
- Strategic development activities were carried out actively and systematically in accordance with the strategy of the Triglav Group.
- The Group is financially sound, its capital adequacy is within the target range and the credit rating of »A« has a stable medium-term outlook.
- The Group firmly remains the leader both in the Adria region and the Slovene insurance market.
- Premium growth was achieved on all insurance markets and in all insurance segments. The value of assets under management was increased.
- The asset management business was strengthened by the acquisition of ALTA Skladi and their merger with Triglav Skladi.
Financial highlights of the Triglav Group
| in EUR million | |||||
2019 | 2018 | 2017 | Index | ||
2019/2018 | 2018/2017 | ||||
| Gross written premium from insurance, co-insurance and reinsurance contracts | 1,184.2 | 1,068.4 | 999.9 | 111 | 107 |
| Net premium income | 1,027.6 | 951.8 | 891.2 | 108 | 107 |
| Gross claims paid | 716.7 | 679.6 | 642.2 | 105 | 106 |
| Net claims incurred | 684.1 | 626.6 | 620.0 | 109 | 101 |
| Gross operating expenses | 305.3 | 288.8 | 274.0 | 106 | 105 |
| Profit before tax | 100.9 | 97.5 | 84.4 | 104 | 115 |
| Net profit | 83.9 | 80.8 | 69.7 | 104 | 116 |
| Net profit attributable to the controlling company | 83.7 | 80.7 | 69.3 | 104 | 116 |
| Combined ratio | 91.5% | 91.8% | 93.1% | 100 | 99 |
| Insurance technical provision as at 31 December | 2,878.9 | 2,713.1 | 2,732.2 | 106 | 99 |
| Equity as at 31 December | 792.0 | 746.9 | 756.6 | 106 | 99 |
| Equity attributable to the controlling company as at 31 December | 789.5 | 744.6 | 749.8 | 106 | 99 |
| Return on equity | 10.9% | 10.8% | 9.3% | 101 | 116 |
| Return on eqiuty attributable to the controlling company | 10.9% | 10.8% | 9.3% | 101 | 116 |
| Book value per share (in EUR) | 34.73 | 32.75 | 32.98 | 106 | 99 |
| Net earnings per share (in EUR) | 3.69 | 3.56 | 3.07 | 104 | 116 |
| Number of employees as at 31 December | 5,281 | 5,166 | 5,151 | 102 | 100 |
Financial hightlights of Zavarovalnica Triglav
| in EUR million | |||||
2019 | 2018 | 2017 | Index | ||
| 2019/2018 | 2018/2017 | ||||
| Gross wrtitten premium from insurance, co-insurance and reinsurance contracts | 702.1 | 660.2 | 622.0 | 106 | 106 |
| Net premium income | 573.6 | 551.9 | 522.1 | 104 | 106 |
| Gross claims paid | 425.2 | 421.0 | 411.3 | 101 | 102 |
| Net claims incurred | 376.8 | 359.9 | 376.3 | 105 | 96 |
| Gross operating expenses | 180.5 | 174.4 | 167.7 | 103 | 104 |
| Profit before tax | 84.6 | 78.5 | 73.8 | 108 | 106 |
| Net profit | 70.6 | 65.5 | 62.5 | 108 | 105 |
| Combined ratio | 85.6% | 86.1% | 87.9% | 99 | 98 |
| Insurance technical provisions as at 31 December | 2,149.0 | 2,061.4 | 2,103.4 | 104 | 98 |
| Equity as at 31 December | 580.5 | 560.1 | 571.4 | 104 | 98 |
| Return on equity | 12.4% | 11.6% | 11.0% | 107 | 105 |
| Book value per share (in EUR) | 25.53 | 24.64 | 25.13 | 104 | 98 |
| Net earnings per share (in EUR) | 3.11 | 2.88 | 2.75 | 108 | 105 |
| Number of employees as at 31 December | 2,253 | 2,290 | 2,285 | 98 | 100 |
For additional information about this report please contact:
Zavarovalnica Triglav d.d., Ljubljana
Miklošičeva cesta 19, 1000 Ljubljana
Tomaž Žust, Director of Strategic Planning and Controlling Department
Phone: +386 (1) 47 47 449
Fax: +386 (1) 23 16 456
E-mail: tomaz.zust@triglav.si