Insurer Zavarovalnica Sava generated almost EUR 27.9m in net profit last year, which is 16% less than in 2015. The company attributes the drop in profit to damages paid out over hail that hit the entire country last August, with north-eastern Slovenia, where the insurer is most present, being hit the hardest.
Standard & Poor's has said it raised its long-term issuer credit rating on Slovenia-based SID Bank to 'A+' from 'A', affirming its stable outlook.
ussia's Sberbank said on Thursday it has started enforcing a pledge over an 18.53% stake in Slovenian retailer Mercator, with the actual enforcement to take place as early as end-June.
Slovenian companies and institutions have been warned to take
cybersecurity seriously after the global ransomware attack that hit tens
of thousands of targets on Friday.
At the end of December 2016, the Slovenian insurers, members of the local association, reported aggregate GWP of EUR 2.03 billion, up by 1.5% y-o-y, the latest data published by SIA show.
Slovenia's holding company Triglav INT, a member of the country's biggest insurer Zavarovalnica Triglav, has launched a buyout bid for the 12% stake it does not already own in Bosnian insurance company Triglav Osiguranje [SAJ:BHOSR], the latter said on Monday.
Slovenia's biggest insurer, Zavarovalnica Triglav, said on Tuesday it plans to pay a gross dividend of 2.5 euro per share for 2016, equal to a year earlier.
The European Bank for Reconstruction and Development (EBRD) said on
Friday it exited its engagement in Slovenia's pension fund Prva Group,
one of the leading asset management providers in central and eastern
Adriatic Slovenica, whose 15 percent market share propels it into second position among Adriatic life insurance carriers, announces it will soon finalise end-to-end automation. ALLFINANZ Interview Server by Munich Re Automation Solutions Ltd. enables fully electronic client applications while streamlining the carrier's internal processes to reduce costs and retain income.
"Like many insurance companies, our customer facing processes are
critical to our business," stated Sonja Leban Gogala, director of sales
channel, Generali Insurance Slovenia. "By automating our core processes
using Metastorm BPM, we will be able to quickly realise its value,
especially in terms of overall competitiveness."
Slovenia's biggest insurer, Zavarovalnica Triglav, said on Thursday it
signed a deal with Germany's KGAL Beteiligungsverwaltungs to establish a
new company, Trigal, as a regional platform for alternative
Standard & Poor's said it has revised its outlook on Slovenia-based
SID Bank (Slovene Export and Development Bank) to positive from stable,
while affirming the bank's 'A/A-1' long- and short-term issuer credit
The Slovenian insurance market totaled EUR 1.52 billion at the end of September 2016, 0.2% more y-o-y, statistics of the country's Insurance Association indicated. In terms of claims paid, the aggregate value was down by 0.7% to EUR 979 million.
Slovenia's Insurance Supervision Agency has rejected an application of
the Croatian tourism and insurance group Adris to boost its stake in
reinsurer Pozavarovalnica Sava, BBJ - Regional Today reported on Monday
citing local media reports.
The first half of 2016 ended for the Slovene insurance market with GWP worth EUR 1.06 billion, a figure which is fairly equal to the one recorded in 1H2015. In comparison with the previous semesters, it seems that timid signs of recovery showed by the local market throughout 2015, after several years of sluggish decline, are still far from becoming a robust trend.
Up to 53% of the population of Slovenia
lives in areas in which
earthquakes have caused great damage in the past. Zavarovalnica TRIGLAV,
the leading Slovenian insurer, has put in place the Everything will be all right
website as an information and educational tool, providing articles
which explain both the risks and the insurance appropriate solutions to
Shareholders of reinsurer Sava Re have endorsed the management's proposal for a dividend payout of 80 cents per share, which is 25 cents more than last year. The shareholders also granted discharge of liability to the management of Zvonko Ivanusic despite his recent dismissal.
Following the hailstorms that ravaged north-eastern Slovenia at the beginning of last week, Zavarovalnica Triglav has set up a mobile appraisal unit in Maribor. It is designed to inspect and appraise the value of car damage in the event of massive loss events. To arrange a visit with the mobile unit call the free on-duty number 080 555 555 or 080 2864.
Fitch Ratings has affirmed Slovenian composite insurer Adriatic Slovenica Zavarovalna druzba d.d.'s (Adriatic Slovenica) 'BBB-' Insurer Financial Strength (IFS) Rating and its holding company, KD Group financna druzba, d.d.'s (KD Group) 'BB' Issuer Default Rating (IDR). The Outlooks on both ratings are Stable.
The introduction of Solvency II, starting January 2016, represents the biggest shift in the insurance regulation in several decades. the challenges arising from this shift ranging from financial, organisational, legal, operational, to systemic risks. The "Solvency II Lessons Learned" conference, organized by the Slovenian Insurance Supervision Agency, aims to exchange views on the first lessons learned in this respect.