Ljubljana, 14 November (STA) - Triglav Group, Slovenia's leading insurance group, reported a net profit of EUR 58.8m for the first three quarters of the year, up 12% on the same period a year ago. Consolidated gross written premium rose by 6% to EUR 820.2m.
According to an interim report posted by the company on the website of the Ljubljana Stock Exchange, premium growth was recorded in all the company's markets; in Slovenia it rose at a rate of 5% and in other markets at 8%.
In terms of individual insurance segments, property insurance premium rose by 6% and the life-insurance segment saw a 1% growth with a 10% growth in the health insurance segment.
Net claims went up by 1% to EUR 471.6m, whereas net premium income rose by as much as 6% to EUR 703.8m.
While the insurance business had a positive impact on the bottom line, returns on investments dropped by 19% year-on-year to EUR 3.1bn due to one-off events in 2017 and the low interest rate environment.
The core company Zavarovalnica Triglav posted EUR 509.6m in gross written premium, up 4% y/y; net profit increased by 12% to EUR 51.3m.
Triglav chairman Andrej Slapar, who was endorsed for another five-year-term by the supervisory board today, expressed satisfaction with the performance.
"Taking into account the business conditions anticipated until the end of the year, we confirm our annual profit guidance," he was quoted as saying.