Slovenian Insurance Supervisory Authority informed in a letter sent to all local insurance, reinsurance and pension companies, that it will adjust its previous recommendation from March this year.
Due to the uncertain situation regarding the spread of the COVID-19 pandemic and the consequent unclear impacts on the economy and the insurance industry, last week, Slovenian Insurance Supervision Agency asked the supervised entities to suspend dividend payments.
Slovene Triglav Group achieved in 2020 profit before tax of EUR 90.9 million, down 10% y-o-y and GWP worth EUR 1,233.8 million, up by 4% y-o-y. The technical result improved on all lines, but the persisting extremely low interest rate environment affected the bottom result.
The Slovenian insurance market totaled EUR 1.97 billion in the first nine months of 2020, a 3.65% increase y-o-y, according to the Slovenian Insurance Association's Q3 report. Life insurance GWP increased by EUR 7.75 million to EUR 557 million, while the Non-life segment reported a positive rate of 4.68%, reaching EUR 1.42 billion - or 71.76% of total GWP.
In 1H2020 the insurance market of Slovenia totaled EUR 1.4 billion, 4.2% more y-o-y. The life sector grew by 1.8%, to EUR 381 million (including pension funds), while non-life GWP went up by 5.2%, to EUR 993 million.
In view of the selected probable scenario of business conditions in 2021, Slovenian TRIGLAV Group plans to increase its consolidated gross written premium to EUR 1.2-1.3 billion and its profit before tax to EUR 85-95 million.
Slovene re/insurance group SAVA announced it intends to send a notification to the Insurance Supervision Agency declaring its intention to pay out dividends in respect of 2019.
Due to the uncertain situation regarding the spread of the COVID-19 epidemic and the consequent unclear impacts of the epidemic on the economy and the insurance industry, the Slovenian Insurance Supervision Agency recommends that insurance, reinsurance and pension companies even after 1 October 2020 suspend dividend payments.
Slovenian insurance market totaled EUR 714 million at the end of March 2020, 6.2% more y-o-y, according to the Slovenian Insurance Association's Q1 report.
The Croatian holding ADRIS Grupa and the shareholder of the largest Croatian insurer - CROATIA osiguranje, have lost the legal battle in Supreme Court due to an increase in their stake in Slovenian SAVA Re, informed local media.
The Italian group GENERALI informed its Slovenian asset management arm - GENERALI Investments Slovenia - is in the process of acquiring ILIRIKA FM AD SKOPJE by merger with GENERALI Investments AD Skopje, a subsidiary of the oldest asset management company in Slovenia, GENERALI Investments. GENERALI mentioned the transaction is subject to relevant regulatory and competition approval.
Slovenian Life insurer NLB Vita becomes part of the SAVA Insurance Group —
one of the top three insurance groups in the Adria region, after on May 29 —
the two involved parties —
KBC Insurance and Nova Ljubljanska banka —
closed the transaction announced on 27 December 2019
Slovenian insurance industry totaled EUR 2.52 billion at the end of 2019, 7.53% more y-o-y according to the Slovenian Insurance Association's year-end report. Non-life insurance made up 70% of total GWP, while the share of life insurance premiums was 30%.
Slovene re/insurance groups TRIGLAV and SAVA Re informed that following the recommendation received on March 31st, 2020 from the Slovenian Insurance Supervision Agency, they will temporarily suspend the dividend payments for 2019.
The GWP value of Slovenian insurers totaled EUR 1.90 billion in the first nine months of 2019, a 6.91% increase y-o-y, according to the Slovenian Insurance Association's Q3 report.
The Insurance Supervesion Agency of Slovenia authorised the merger of local players Zavarovalnica GENERALI and ADRIATIC SLOVENICA, with the procedure to be finalised with the entry into the court register, expectedly at the beginning of 2020, local media wrote.
Sava Re d.d. announced that it is considering options for issuing subordinated bonds to optimize the capital structure of the Sava Insurance Group. The Company will decide on whether to move forward with the bond issue after examining all market conditions.
For the first six months of 2019, Slovenian insurance market wrote a total amount of EUR 1,317 million gross premiums, 6.6% more than the volume of the same period of prior year. The total paid claims and benefits volume was EUR 784 million, decreasing by 0.6%.
On 29 August 2019, Zavarovalnica Triglav announced that David BENEDEK has assumed the office on the Management Board of Zavarovalnica Triglav, for a five-year term.
Sava Re and Triglav Group announced the acquisition of 80% share capital of Diagnostic Centre Bled (Diagnosticni center Bled d.o.o.), representing 100% of the voting rights through their jointly-owned company ZTSR d.o.o..