Slovenia
SLOVENIA hit by the worst-ever natural disaster in its history; Triglav and Sava Re expect significant claims payments
Severe storms and heavy rain have caused Slovenia's worst floods on record, also affecting the South of Austria. While economic losses are estimated at about EUR 500 million, thousand of people evacuated from their homes and at least 6 died. Local re/insurers expect significant claims expenses.
8 August 2023Registration open for the "Artificial intelligence in insurance - evolution or revolution?" Conference in Ljublijana
What does artificial intelligence mean for the human role in insurance? Will artificial intelligence replace some traditional professions? Will it replace the agent, loss assessor and actuary? The topic is on the agenda of the upcoming conference entitled "Artificial intelligence in insurance - evolution or revolution?", that will take place in Ljublijana, at the Grand Hotel Union.
22 June 2023Triglav Group, Q1 2023: increasing business volume, but lower profitability due to the difficult economic context
In Q1 2023, the Triglav Group increased its total business volume to EUR 484.6 million (+9% y-o-y) and generated EUR 18.5 million in profit before tax (-37% y-o-y). Results were affected by the more challenging business conditions accompanied by the effects of inflation, higher claim intensity, a lower health insurance result and the effects of methodological decisions in the transition to IFRS 17 and IFRS 9 accounting standards.
31 May 2023Artificial intelligence in insurance is the topic of the September 2023 conference in Ljubljana
The Insurance Supervision Agency of Slovenia announces the international conference on September 11, 2023 which will focus on artificial intelligence and its role in the insurance industry. Registrations are opened online here.
25 May 2023STATISTICS: Slovenia: insurers' FY 2022 business increased to almost EUR 2.8 billion
The Slovenian insurance market totaled EUR 2.79 billion at the end of 2022, a 7% increase y-o-y, according to the Slovenian Insurance Association's year-end figures. Life insurance GWP increased by 3.12% y-o-y to EUR 770 million, while the general insurance segment increased by 8.5% y-o-y to EUR 2.02 billion - or 72.5% of total GWP.
20 April 2023Zavarovalnica Triglav has a new BoD member
Slovene Zavarovalnica Triglav informed, that on 2 March 2023 Blaz Jakic assumed the office on the Management Board of Zavarovalnica Triglav for the five-year term of office.
8 March 2023STATISTICS: Slovenian insurers GWP up 4.8% y-o-y in January-September
The gross written premiums of Slovenian insurers rose 4.8% on the year in the first nine months of 2022, reaching EUR 2.14 billion, according to the end-September 2022 market data of the Slovenian Insurance Association.
21 December 2022STATISTICS: SLOVENIA, 1H2022:
Slovenian insurers reported GWP up by 4.62% y-o-y in 1H2022, to EUR 1.48 billion. The absolute trend setter was the non-life segment which saw a 6.3% GWP growth rate, to EUR 1.08 billion, while the life insurance segment remained, overall, at the 1H2021 GWP level, of EUR 393.6 million. Yet, one should notice that the Unit-Linked products line was the one which, by recording a 7.6% premiums growth, has offset the negative trend seen on the traditional life insurance lines. Paid claims went up by about 11,67%, to EUR 906 million, mostly driven by the health insurance line.
13 October 2022AM Best affirms "A" ratings on Save Re; outlook stable
Following its regular annual rating review, the rating agency AM Best (Agency) affirmed the financial strength rating of Sava Re of "A" (Excellent) and its long-term issuer credit rating of "a" (Excellent), both with a stable outlook, the Slovenian reinsurer said.
29 September 2022STATISTICS: Slovenia, 1Q2022: health insurance claims loaded the insurers' balance of payments
Slovenian insurers reported GWP up by 5.08% y-o-y in 1Q2022, to EUR 762.2 million. The trend setter was the non-life segment which provided for about 93% of the y-o-y additional premiums volume. Paid claims went up by about 12,6%, to EUR 453.7 million, mostly driven by the health insurance line.
18 August 2022SAVA Re, 1H2022: motor claims inflation and weather-related losses imopacted upon the group's net profit
Slovenian Sava Insurance Group generated a net profit of EUR 28.9 million in 1H2022, which is 48.2% of the annual target. The Group achieved operating revenue of EUR 364.2 million, representing 52.0% of the full-year target, the Group announced.
18 August 2022STATISTICS: Slovenian insurance market posted slight y-o-y increase in GWP to EUR 2.6 bn
The Slovenian insurance market totaled EUR 2.60 billion at the end of 2021, a 1.5% increase y-o-y, according to the Slovenian Insurance Association's year-end figures. Life insurance GWP posted a negative rate of -1.2% y-o-y to EUR 740 million, while the general insurance segment increased by 2.7% y-o-y to EUR 1.87 billion - or 71.63% of total GWP.
21 April 2022The head of Zavarovalnica Sava to continue his career at Grawe
David KASTELIC, the long-time President of the Management Board of Zavarovalnica Sava and former Zavarovalnica Maribor, will continue his career at Grawe zavarovalnica, local media wrote.
21 March 2022Triglav exposure to Russian-Ukrainian crisis is limited
Slovene re/insurance group Triglav announced its operations are to some extent exposed to the situation resulting from the war in Ukraine and related sanctions against Russia and Belarus.
15 March 2022No material impact on operations of Sava Insurance Group expected due to direct consequences of developments in Ukraine
Sava Insurance Group expects no material impact on its business results from the war in Ukraine, as its business volume and investment exposure to Russia and Ukraine are very low. An indirect impact on the Group's investment portfolio can be expected due to the trends in financial markets, the Group said.
15 March 2022Europ Assistance acquires Call 365 to create EA Slovenia
Europ Assistance (EA), a subsidiary of the Generali Group, announced the acquisition of Slovenia-based company Call 365. Call 365 has been operating as Europ Assistance exclusive partner in Slovenia for 3 years, providing roadside and travel assistance services to Slovenian customers and travelers to Slovenia.
25 January 2022STATISTICS: Slovenian market exceeds EUR 2 bn at end-September 2021
The Slovenian insurance market totaled EUR 2.03 billion in the first nine months of 2021, a 3.29% increase y-o-y, according to the Slovenian Insurance Association's Q3 report. In terms of paid claims, the aggregate value was ~EUR 1.18 billion, of which about EUR 387 million - life indemnities and EUR 803 million - payments related to non-life insurance sub-classes.
19 January 2022Sava Re's targets for 2022: revenue of over EUR 700 million and over EUR 60 million in net profit
Based on its 2020-2022 strategy, the Sava Insurance Group has prepared its business plan for 2022. The Group is planning to exceed EUR 700 million in operating revenue and generate a profit after tax of more than EUR 60 million, which translates into a return on equity of more than 11.5% in 2022.
20 December 2021SLOVENIA: AM Best confirmed the rating of SAVA Re at A level
The rating agency AM Best confirmed the financial strength rating "A" (excellent) of the Slovenian reinsurer Sava Re and its long-term credit rating at "a", both with a stable outlook, osigurajse.net informed.
8 November 2021SLOVENIA: AM Best affirms Triglav's rating at 'A', outlook stable
The rating agency AM Best affirmed the financial strength rating of the Slovenian insurer Zavarovalnica Triglav and its subsidiary, Pozavarovalnica Triglav Re, at 'A' (excellent) and their long-term issuer ratings at 'a', SeeNews informed with reference to the insurer's statement.
19 October 2021
