Ljubljana, 21 December (STA) - Triglav Group, Slovenia's leading insurance group, has budgeted profit before tax to reach between EUR 90m and EUR 100m next year with gross consolidated written premium projected at EUR 1.1bn.
The company released the projections via the Ljubljana Stock Exchange on Friday, saying it expected the macroeconomic environment of the region to continue to be favourable for its insurance business, even though less than in 2018.
Profit before tax for this year is budgeted at EUR 80-90m.
The group refreshed its existing strategy until 2022 but maintained all of its key points. The revised version gives more emphasis on the client and sums up Triglav's values to responsiveness, simplicity and reliability.
CEO of insurer Zavarovalnica Triglav Andrej Slapar said Triglav was entering 2019 "with optimism and energy," a focus on profitability and a financially solid operations.
The long-term stable economic profitability and increasing the value of the group remain Triglav's strategic goals. The target return on equity is set to exceed 10% throughout the whole strategy period.
The group expects favourable macroeconomic situation in the region, which could however increase competition in the insurance market, and a rather unfavourable situation for profitability of the group's investment in 2019.
In the insurance section, Triglav expects the total written premium on markets outside Slovenia to rise. In damages, it expects similar trends as in the past years.
In asset management, it plans to continue to pursue the strategic goal of increasing the amount of their clients' assets.