March 6 (SeeNews) - Slovenia's biggest insurer Zavarovalnica Triglav [LJE:ZVTG] recorded a consolidated net profit of 110.2 million euro ($117.1 million) in 2022, down 2% on an annual comparison basis, it said.
Total revenue went up 10% to 1.599 billion euro with net premium income rising 6% to 1.19 billion euro, Zavarovalnica Triglav said in a statement on Friday.
"The Triglav Group remains financially strong; its financial position in 2022 was significantly affected by the situation in the financial markets, rising inflation and higher dividend payout. Despite higher risks, as at the year-end the group's capital adequacy was high and around the lower end of the target range that we had set," the head of Zavarovalnica Triglav's management board, Andrej Slapar, said in the statement.
The group's consolidated gross written premiums rose 9% to 1.48 billion euro in 2022. The non-life insurance premium increased by 12%, life and pension insurance premium by 6% and health insurance premium by 3%.
Gross claims paid amounted to 832.2 million euro, up 13%, while total consolidated gross operating expenses incurred by the group amounted to 374.9 million euro, up 12%.
As at 31 December 31, 2022, the Triglav Group's balance sheet total reached 4.1 billion euro, its total equity amounted to 752.8 million euro and gross insurance technical provisions totalled 3.1 billion euro.
Elswhere in Southeast Europe, the insurer is also present in Croatia, Serbia, Bosnia, Montenegro and North Macedonia
($ = 0.94115 euro)
Zavarovalnica Triglav d.d. is among the biggest insurers in SEE. You can download our SEE Top 100 ranking here
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