Triglav: 2023 results affected by one-off events, operations expected to normalize in 2024

9 April 2024 — Andrei VICTOR
The Slovene re/insurance group Triglav informed in a statement that its Supervisory Board approved the Audited Annual Report for 2023. According to the Report, Triglav Group increased its total business volume by 12% to EUR 1,780.2 million in 2023, while maintaining its financial stability and high capital adequacy.

During 2023, Triglav Group “retained its dominant market position in the Adria region. Under the impact of negative one-off events, the Group's earnings before tax amounted to EUR 21.1 million and its net earnings to EUR 16.3 million. In 2024, the Group expects its operations to normalize in line with its strategy”.

Thus, the Management Board and the Supervisory Board will propose to this year's General Meeting of Shareholders to pay a dividend of EUR 1.75 gross per share, or EUR 39.8 million in total. The proposed dividend provides shareholders with a 5% dividend yield.

Triglav Group informed that in 2024, the Group's total business volume is planned at around EUR 1.6 billion, earnings before tax of EUR 100–120 million and a combined ratio of Non-Life and Health segments at around 95%.

"Last year was a very challenging year, during which we demonstrated our flexibility and resilience, which is bolstered by our robust business model. We maintained our financial strength and a leading market position in the region, while increasing our business volume and operating with profit. In 2024, we expect our operations to normalize in line with our strategy", said Andrej Slapar, President of the Management Board of Zavarovalnica Triglav.