Slovenian insurer Zavarovalnica Triglav said on Friday it has
completed the sale of its 97.31% stake in bus transport unit Avrigo to
Adventura Prevozi. Following the fulfilment of regulative and
other conditions arising from the agreement on the sale of a 97.31%
stake in Avrigo to Adventure Prevozi, Zavarovalnica Triglav has
completed the transaction, the insurer said in a filling with the
Slovenian reinsurer Sava Re said on Thursday it has acquired from lender
Nova Kreditna Banka Maribor (NKBM) a 45% stake in pension company Moja
Nalozba Pokojninska Druzba. The deal is conditional on getting
relevant approvals from the Insurance Supervision Agency and the
Competition Protection Agency, Sava Re said in a filing to the Ljubljana
Insurance premiums in Slovenia totaled EUR 1.51 billion in 3Q2015, 1.21% more compared with the January-September 2014 period, according to the figures published on SIA's (Slovenian Insurance Association) website. On the claims side, the aggregate value increased by 2.63% to EUR 986.36 million, of which EUR 295.86 million were life indemnities and EUR 690.51 million - paid claims related to non-life sub-classes.
Slovenian financial services provider KD Group said on Wednesday its net
profit dropped to 231,000 euro in the first nine months of 2015 from
7.8 million euro a year earlier.
Fitch Ratings said on Tuesday it has affirmed the Insurer Financial
Strength (IFS) rating of Slovenian insurer Adriatic Slovenica at BBB-
and the Issuer Default Rating (IDR) rating of Adriatic Slovenica's
holding company, KD Group, at BB-.
Slovenian financial services group KD said on Tuesday its unit KD
Kapital has signed a deal for the sale of 50.04% of ski slope operator
Zicnice Vogel. The move is part of a strategy for the divestiture
of non-strategic investments, a KD spokesperson said in an emailed
response to a SeeNews inquiry.
After several years of sluggish decline, in 1H2015 the Slovenian insurance market seemed to show some recovery signs, with a 3.8% increase in the life GWP and lower negative change rate, of 0.8%, on the non-life side, overall resulting in a 0,4% y-o-y growth of the total GWP volume, to EUR 1.06 billion.
On 22 September 2015, Sava Reinsurance Company, as the purchaser, and
Merkur zavarovalnica d.d. Ljubljana, as the seller, signed a purchase
contract for 1,510 shares of the pension company Moja nalozba
pokojninska druzba d.d., which represents 10 percent of the pension
company's issued shares.
Head of the Insurance Supervision Agency Sergej Simoniti has told the STA that the EU's Solvency II directive will make Slovenian insurers even safer, since it introduces higher risk management standards. Simoniti, who does not expect any insurance companies to need extra capital, highlighted good oversight as a key reason for this.
Slovenian reinsurer Sava Re plans organic growth primarily in markets
where it already has operations while also examining other opportunities
for expansion, the chairman of the company's managing board said.
Slovenian Insurance company Zavarovalnica Triglav, part of Triglav
Group, successfully released the first true usage based insurance
product in the Adria Region. The Triglav Group is one of the
leading insurance-financial institutions in South-East Europe. It is
present in seven markets and six different countries.
The Slovenian insurance market totaled EUR 547.10 million at the end of March 2015, 1.67% less (or EUR 9.27 million in absolute value) as compared with 1Q2014, statistics of the country's Insurance Association indicated. The value of paid claims increased in absolute value by EUR 3.63 million to EUR 332.61 million, of which EUR 100.30 million were life indemnities and EUR 232.31 million - claims related to non-life sub-classes.
The Slovenian government would like to enable the country's No. 1
insurer Zavarovalnica Triglav sustainable growth, Finance Ministry State
Secretary Metod Dragonja said on Saturday as he explained the
government's rationale behind not wanting to keep it in state ownership.
Slovenian insurers saw again a negative change in the overall market results in 2014, with GWP decreasing by 2%, to EUR 1.94 billion. The negative trend affected both life and non-life insurance segments. Paid claims also decreased by 2.5%, to EUR 1.33 billion.
Slovenian financial services group KD said on Tuesday it has signed a 67
million euro loan deal with a syndicate of local banks in a bid to
refinance its financial liabilities. The seven-year loan -
extended by NLB, Abanka Vipa, Gorenjska Banka, Banka Celje and NKBM,
should ensure an optimal financing structure across the group while
improving the maturity profile of funding sources, KD Group said in a
SimCorp, a leading provider of investment management solutions and
services for the global financial services industry, today announced
that Triglav Group, the leading insurance and financial group in the
Adriatic region, has selected SimCorp Dimension as the new software
solution for its front-, middle- and back-office operations.
Slovenian lender Nova Ljubljanska Banka (NLB) said on Thursday that it
does not plan to sell its 28% stake in local pension insurer Skupna
Pokojninska Druzba in response to speculations of a possible divestment.
Slovenia's biggest insurer, Zavarovalnica Triglav, said on Wednesday it
has raised its stake in local pension insurer Skupna Pokojninska Druzba
(SPD) to 66.65% from 30.14% after filing a takeover bid. The
strategic move aims to strengthen Triglav's presence on the Slovenian
pension insurance market and position the company to take advantage of
future growth opportunities there.
The Slovenian insurance market saw a 2.8% y-o-y decrease in GWP at the end of the first three quarters of 2014, to about EUR 1.5 billion. Although the strongest relative decrease rate was recorded on the life insurance side (-4.99%), in fact both life and non-life insurance sectors have lost about EUR 20 million of their total GWP amounts, as compared with 3Q2013.
Slovenia's insurance sector is adequately capitalised to meet the
requirements of the European Solvency II Directive, the Insurance
Supervision Agency said on Monday announcing the results of the stress