April 3 (SeeNews) - Slovenia's biggest insurer Zavarovalnica Triglav [LJE:ZVTG] expects its pre-tax consolidated profit to decline to between 95 million euro ($103 million) and 110 million euro this year from 134.5 million euro in 2022, it said.
"In the insurance business, the group plans to operate profitably and record a total written premium of 1.5 -1.6 billion euro, as well as achieve a combined ratio of below 94% in non-life and health insurance," Zavarovalnica Triglav said in an annual report for 2022, filed with the Ljubljana Stock Exchange on Friday.
The group plans to further strengthen its position in existing markets, while seeking opportunities in the EU according to the principle of free movement of services and through partnerships, Zavarovalnica Triglav said.
In its operations, Zavarovalnica Triglav will consistently follow its strategic guidelines, focusing on a high-quality and uniform client experience, the further development of service-oriented business models and ecosystems that address the interrelated needs of clients, and the implementation of innovative processes using modern technology.
Zavarovalnica Triglav recorded a consolidated net profit of 110.2 million euro in 2022, down 2% on an annual comparison basis. Total revenue went up 10% to 1.599 billion euro, with net premium income rising 6% to 1.19 billion euro.
($ = 0.9217 euro)
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