Slovenia's Triglav 9-mo pre-tax profit rises 3% y/y

“We operate in very challenging conditions in the financial markets; however, the underwriting discipline and the growing volume of business enable us to effectively achieve the set objectives. Taking into account the business conditions anticipated until the end of the year, we confirm our annual profit guidance,” Andrej Slapar, president of the management board of Zavarovalnica Triglav, said in a filing to the Ljubljana Stock Exchange.

The group’s consolidated gross written insurance, co-insurance and reinsurance premiums increased 10% on the year to 905.5 million euro in the first nine months, Triglav said in a filing to the Ljubljana bourse.

Net premium income rose to 751.4 million euro in the period under review from 703.8 million euro in the same period of 2018.

Net claims incurred grew 4% to 488.4 million euro.

Premium growth was recorded in almost all of our markets and in all three insurance segments.

As at 30 September 2019, there were 5,221 employees in the Triglav Group, 55 more compared with the end of 2018.

Shares in Zavarovalnica Triglav last traded on the Ljubljana Stock Exchange on Wednesday, when they closed 1.25% higher at 32.5 euro, bourse data showed.

($ = 0.90831 euro)