Insurer Triglav With 15% Market Share in SE Europe

Ljubljana, 12 February

Zavarovalnica Triglav, Slovenia's largest insurer, holds a 15% market share in SE Europe, Triglav chairman Andrej Kocic told the press on Tuesday as he presented the group's unconsolidated business results for 2007.

According to Kocic, Triglav is the biggest insurance group in the region. It was joined by two new insurers last year, Krajina Kopaonik from the Republic of Srpska in Bosnia-Herzegovina and Vardar Osiguranje from Macedonia.
The group opened a company for pension insurance in Serbia and a new subsidiary in Slovakia. Triglav was present in Slovenia, Croatia, Bosnia-Herzegovina, Serbia, Montenegro, Macedonia, the Czech Republic and Slovakia.
The core company, Zavarovalnica Triglav, collected EUR 707.6m in premiums in 2007, a 7% rise over 2006, while paying out EUR 367.6m in claims, also 7% more than in 2006, Slovenia's largest insurer said on Tuesday. Its market share in Slovenia stood at 42.9%.
The remaining companies within the group also managed to increase their market shares in 2007. Health insurer Triglav zdravstvena zavarovalnica, which operated in the black for the first time last year since being set up in 2003, upped its share in health insurance to 15.2% and collected EUR 51.6m in premiums.
Croatia's Triglav Osiguranje increased the amount of collected premiums by 18% to EUR 51.3m and is aiming for a 16% rise in 2008. Serbia's Triglav Kopaonik Osiguranje managed to collect EUR 14.4m in premiums, 26% more than in 2006, while Montenegro's Lovcen upped its amount of collected premiums by 16% to EUR 34.2m.
Triglav Pojstovna, from the Czech Republic, increased the amount of its premiums by 25% to EUR 19.5m and is nearing a 1% market share. Krajina Kopaonik collected EUR 3.7m in premiums, Macedonia's Vardar Osiguranje collected EUR 28.2m and Triglav BH osiguranje from Sarajevo EUR 15.2m.
Kocic underscored that the company planned to continue expanding in 2008, aiming to raise the total amount of collected insurance premiums to "the magic EUR 1bn mark".

Insurer Triglav With 15% Market Share in SE Europe

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