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TRIGLAV: Rated A and stable

Ranked by gross written premiums, Triglav became a medium-sized Euro¬pean insurance group, underscoring its competitive position. According to data published by the supervising authorities in the countries where the TRIGLAV Group operates, the consolidated gross written premium of the group's subsidiaries rose to EUR 520 million.

The economic crisis did not signifi cantly impact the level of demand for Triglav Group insurance products, but it changed the structure of earned premiums, states a document released by the company. A decline in life insurance and other unit-linked products was offset by higher growth in non-life insurance. The combined ratio, which measures the profi tability of the core insurance business, dropped to its lowest and most favourable level in history.

In 2008, Zavarovalnica Triglav was ranked by Standard & Poor's. The agency assigned it an »A« rating with a "stable" mediumterm outlook, and an »A-« rating to its subsidiary, Pozavarovalnica TRIGLAV Re, also with a "stable" medium-term outlook. The agency has stated that the credit rating of Zavarovalnica Triglav also refl ects the fi nancial strength of the Triglav Group

In 2008, thanks to its conservative investment policy and clear risk management strategies the TRIGLAV Group earned profit: EUR 2.3 million before tax.

The TRIGLAV Group is present ob the insurance markets from Slovenia, Croatia, Serbia & Montenegro, Bosnia & Herzegovina and the Czech Republic.

Author: Daniela GHETU on 29.10.2009

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