LJUBLJANA (Slovenia), March 2 (SeeNews) – Slovenia's biggest insurer Zavarovalnica Triglav [LJE:ZVTG] said on Monday that its unaudited pre-tax profit rose to 100.9 million euro ($111.2 million) last year, compared to 97.5 million euro in 2018.
“The year 2019 was successful; according to unaudited data, we have achieved a 4% higher profit before tax compared to the previous year and strengthened our market position in the region. The favourable results were driven by growth in business volume, underwriting discipline and higher rates of return on investment,” Andrej Slapar, president of the management board of Zavarovalnica Triglav, said in a filing to the Ljubljana Stock Exchange (LJSE).
The group’s volume of gross written premiums increased by 11% on the year to 1,184 million euro in 2019 last year, with premium growth recorded on all insurance markets and in all insurance segments - non-life insurance, life insurance including pension insurance and health insurance, the company said.
Net premium income rose to 1,027.6 million euro in 2019, from 951.8 million euro in 2018.
Net claims incurred grew to 684.1 million euro from 626.6 million euro.
As at 31 December 2019, there were 5,281 employees in the Triglav Group, up from 5,166 at the end of 2018.
Zavarovalnica Triglav's shares closed 0.30% lower at 32.7 euro on the LJSE on Monday, bourse data showed.
($ = 0.90625 euro)
Zavarovalnica Triglav d.d. is among the biggest insurers in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here