Triglav Group, 3Q2024: restored profitability in Slovenia after the 2023 fall in earnings

21 November 2024 — Daniela GHETU
In 3Q 2024, the Triglav Group's earnings before tax stood at EUR 124.7 million vs. the EUR 10.1 million loss recorded the previous year mostly because of major CAT claims and the price regulation of supplemental health insurance. Net earnings amounted to EUR 106.8 million (9M 2023: EUR –9.6 million).

The Group achieved strong performance across all business segments. The total business volume reached EUR 1,305.4 million, a 4% y-o-y decline. However, when factoring in the effect of the shortfall in supplemental health insurance premium in Slovenia, it recorded an 8% growth. At the end of the first nine months, the Group reaffirmed its increased annual earnings before tax forecast of EUR 130–150 million, which includes the compensation received from the state.

To ensure continued profitable, safe and sustainable operations, the Group has adopted its business plan for 2025 and upgraded its business strategy to 2030. In 2025, the Group projects earnings before tax of EUR 130–150 million (net earnings of EUR 100–120 million) in the ordinary course of business. Its strategic ambition is to double it to EUR 250–300 million by 2030. The Group continues to maintain its financial stability and capitalization within the target range, positioning itself as a stable, safe and profitable investment for investors.

More detailed information on the Triglav Group's performance in the first nine months of 2024, its plan for 2025 and the highlights of its strategic ambitions to 2030 are available, together with the presentation for investors, on the Group’s webpage.

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