Business News

Top Insurer Reports Loss for 2009

Ljubljana, 31 March (STA) - Slovenia's top insurer Zavarovalnica Triglav reported a loss of EUR 6.3m on premiums of nearly EUR 1bn in 2009. It blamed the loss on damage caused by several storms which hit Slovenia during the summer and the consequences of the financial crisis.

According to the insurer, the crisis resulted in a drop in value of investments, which the group had to register as write-downs.

Despite the small loss, Zavarovalnica Triglav remains one of the leading insurance and financial groups in the region, the group said in its statement on Wednesday.

Total damages paid out by the group amounted to EUR 610.9m.

Revenues from property insurance rose by 2% and health insurance by 3%, although life insurance revenues dropped by 8%.

The parent company accumulated premiums of EUR 744.5m and paid out damages worth EUR 414.2m.

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