According to the Group’s report, earnings before tax amounted to EUR 49.3 million (Q1 2025: EUR 54.3 million), while net earnings amounted to EUR 39.8 million (Q1 2025: EUR 46.1 million). Taking into account the anticipated business conditions for the remainder of the year, Triglav Group estimates that it will achieve its planned annual earnings before tax for 2026 (EUR 170–190 million).
The combined ratio stood at 93.0% (Q1 2025: 88.5%), while the new business margin Life was 14.8% (Q1 2025: 11.7%). Annualised return on equity stood at 15.6% (Q1 2025: 19.8%). Capital adequacy remained within the target range of 200–250% at the end of the first quarter.
The proposed dividend for 2026 amounts to EUR 3.00 gross per share, totalling EUR 68.2 million (7% higher than in the previous year), which, in line with the dividend policy, represents half of consolidated net earnings for 2025. The expected dividend payment date is 17 June 2026. The General Meeting of Shareholders is scheduled to take place on 2 June 2026.
"We are satisfied with the results achieved; earnings before tax amounted to EUR 49.3 million and,
taking into account the anticipated conditions for the remainder of the year, we expect to achieve our
annual profit guidance”, said Andrej Slapar, President of the Management Board of Zavarovalnica Triglav.
“Our operations in the first quarter of this year took place in more challenging conditions than last year, primarily due to volatility in financial markets and somewhat higher CAT claims. Stable and profitable
operations were maintained in the insurance business. In the investment business, we were exposed to
financial market volatility and therefore managed risks and the investment portfolio with particular
care. Capital strength and financial stability were effectively maintained”, he emphasized.
“In line with our strategy, we continue to strengthen our business volume and share outside Slovenia. In
international insurance markets, we cooperate with numerous partners and adapt dynamically to
opportunities and market conditions, resulting in potentially volatile business volumes from year to
year”, Andrej Slapar explanined. “We remain focused on achieving our strategic ambitions. I would like to take this opportunity to thank our employees, whose dedication and expertise make a significant contribution to their realization”, President of the Management Board added.
The full report on 1Q results can be found here.
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