March 3 (SeeNews) - Slovenia's biggest insurer, Zavarovalnica Triglav [LJE:ZVTG], said on Tuesday its consolidated net profit rose 23% to 85.7 million euro ($95.9 million) in 2014.
In 2014, the group’s operations were primarily affected by still unfavourable business conditions on the insurance markets and the situation on capital markets which resulted in extraordinarily high returns on financial investments, Triglav said in a statement.
Consolidated net premium income fell 2% to 819.8 million euro in 2014 while gross written premium income from insurance and co-insurance edged down 1% to 888.2 million euro. The group’s net claims incurred rose 4% to 594.7 million euro in 2014.
With a 36.1% share, the Triglav Group improved its leading market position in Slovenia, adding 0.3 percentage points compared to 2013.
On the life insurance segment, Triglav Group's market share in Slovenia rose by 0.1 percentage point to 32.7% and on the non-life insurance segment it stood at 37.4%, up 0.3 percentage points compared to 2013.
The group employed 5,406 at the end of December, up by 1% from a year earlier.
Zavarovalnica Triglav has said it targets a consolidated net profit of 72 million euro this year and 880 million euro in gross written premiums.
($=0.8936 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