Financial Performance of Triglav Group in the First Half of 2017
In the reporting period, the Group collected 547.8 million euros of gross premiums, having exceeded its performance in the same period of 2016 by 8%. Net income increased by 6% to 36.1 million euros. Earnings before interest and taxes decreased by 2% to 42.4 million euros.
The Group’s activities were successful in all markets. In Slovenia, the average premium indicator grew by 7%, and in the markets outside of Slovenia increased by 12%. The largest increase in premiums (33%) was recorded in the Serbian market.
The Slovenian market remains the main for the Group. However, Zavarovalnica Triglav is gradually expanding the share of insurance premiums in foreign markets. According to the results of the first half of the year, it amounted to 17.6%, which is 0.6% up as compared to the same period in 2016.
For the first 6 months, the Group allocated 314.2 million euros of insurance fund to recover damages. At the average annual level, the figure has grown by 4% resulting from the expansion of the insurance portfolio and the increased frequency of losses.
In the first half of 2017, the Zavarovalnica Triglav parent company collected 352.1 million euros of gross premiums (a 7% increase in the mid-annual measurement). Net profit for this period increased by 19% to 35.1 million euros, and earnings before interest and taxes grew by 10% (to 40.4 million euros).