Slovenia's top insurer Zavarovalnica Triglav plans to expand its activity in the Macedonian private pensions market. The Group is already present on the local insurance market, with two companies.

The company has already submitted an application to Macedonia's Agency for the Supervision of Fully Funded Pension Insurance (MAPAS) to establish a new company specialized in the management of compulsory and voluntary pension funds.

"The founding process will be carried out under full control by the Agency in accordance with the Macedonian legislation in the best interests of the pension system", has declared MAPAS on their website. "This step confirms the stability and reliability of the pension system and is an opportunity for greater competitiveness and development of the pension system, as well as a greater range of available for the pension funds members", added MAPAS.

"The purpose of expanding the operations of Triglav Group in the Macedonian pension insurance market is consistent with its strategic guidelines", said Triglav.

The announcement was officially published by Triglav on February 12th.

At the end of 2017 TRIGLAV started its operations on the Macedonian life insurance market, establishing a new company, TRIGLAV Osiguruvanje Zivot. TRIGLAV has been present in Macedonia since 2007, but only in the non-life insurance market, where it holds the leading position with an about 18% market share.