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Slovenia's Triglav plans cons pre-tax profit of 90-100 mln euro in 2019

Slovenia's Triglav plans cons pre-tax profit of 90-100 mln euro in 2019 Author: Triglav. License: All rights reserved.

LJUBLJANA (Slovenia), December 21 (SeeNews) – Slovenia's biggest insurer, Zavarovalnica Triglav [LJE:ZVTG], said on Friday it plans to generate a consolidated pre-tax profit of 90 to 100 million euro ($103 - $114 million) in 2019, on gross written premiums of over 1.1 billion euro.

The combined ratio of the group is projected to be favourable at around 95%, Triglav said in a Ljubljana bourse filing.

"We are entering 2019 with optimism and energy to continue developing the culture of engagement and our focus on the client, with the aim of achieving profitable and financially sound operations. Taking into account the business conditions, a higher profit before tax is planned for the next year compared to the one budgeted for 2018," Andrej Slapar, president of the management board of Zavarovalnica Triglav, said. "We will continue to carefully implement all set strategic projects and activities, and I believe we will be successful."

The group also said it expects that the macroeconomic environment of the region will remain favourable for its insurance business, even though less than in 2018, which could result in even fiercer competitive conditions in the insurance markets.

($ = 0.87468 euro)