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Category: Inside information
Published on: SEOnet
Published at:  11.09.2017 09:00
Published document ID: INI-924/17


S&P Confirms Triglav Group's “A” Credit Rating with Stable Medium-Term Outlook

In accordance with the Ljubljana Stock Exchange Rules and the applicable legislation, ZAVAROVALNICA TRIGLAV d.d. hereby publishes the following notice:

On 8 September 2017, S&P Global Ratings confirmed the “A” long-term credit rating and financial strength rating of the Triglav Group and thereby of its parent company Zavarovalnica Triglav d.d. and its subsidiary Pozavarovalnica Triglav Re d.d. Both credit ratings have a stable medium-term outlook.

In its report, the rating agency assessed the business risk profile of the Triglav Group as strong, by taking into account particularly the improved situation on the Group’s largest market, i.e. Slovenia, and the Group’s strong competitive position in both Slovenia and the region. The financial risk profile of the Group was assessed as very strong. According to S&P Global Ratings, the Group has a well-diversified investment portfolio supported by an extremely strong capital adequacy. In addition, the rating agency states in its report that the Group has adequate reinsurance protection.

S&P Global Ratings pointed out the notable advantages arising from the consistent strategic guidelines of the Triglav Group. The emphasis on profitability and safety of its operations from the previous strategy period was preserved in the new strategy period, and the Group’s operations stay focused on two business pillars: insurance and asset management. The greater strategic importance and development of the latter, which is set out in the new strategy, is most welcome. S&P Global Ratings expressed the same positive opinion in respect of the new, particularly development-oriented components of the Group’s operations, which include digitization, integrated client management, development of new products and sales channels, which have already been assessed as favourable by the rating agency.   

The “A” credit rating exclusively reflects the Group's standalone credit risk profile and does not include any uplift from the insurer's status as a government-related entity. The stable medium-term outlook reflects the S&P Global Ratings’ expectations that the Triglav Group will continue to effectively implement its set strategy and sustain high earnings, growth and very strong capital adequacy over the next two years.

This information will be published on the website of Zavarovalnica Triglav d.d. at www.triglav.eu as of 11 September 2017 and will remain available on the Company's public website for a period of at least five years.

Management Board of Zavarovalnica Triglav d.d.
Date: 12.09.2017