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Slovenia's Triglav Q1 pre-tax profit rises 9% y/y

Slovenia's Triglav Q1 pre-tax profit rises 9% y/y Author: Triglav. License: All rights reserved.

LJUBLJANA (Slovenia), May 15 (SeeNews) – Slovenia's biggest insurer Zavarovalnica Triglav [LJE:ZVTG] said on Wednesday its first quarter unaudited pre-tax profit rose 9% on the year to 29.9 million euro ($33.6 million).

“We are pleased with the performance in the first three months of 2019. 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 filing to the Ljubljana Stock Exchange.

The group’s consolidated gross written insurance, co-insurance and reinsurance premiums increased 8% on the year to 317.2 million euro in the January-March period, Triglav said in a filing to the Ljubljana bourse.

Net premium income rose to 235.2 million euro in the first quarter from 223.4 million euro in the same period of 2018.

Net claims incurred expanded 6% to 160.7 million euro.

Premium growth was recorded in almost all markets of the group.

In Slovenia, Triglav's gross written premiums expanded 6% to 247.5 million euro, while in Croatia they rose by 11% to 18.6 million euro. In Serbia, premiums added 14% to 14.0 million euro, in Montenegro they jumped 25% at 8.8 million euro, in Bosnia and Herzegovina they added 5.5% to 7.7 million euro, while in North Macedonia they fell 11% to 5.7 million euro.

Triglav Group employed 5,151 at the end of March.

($=0.89097 euro)