Business News

Triglav Triples Pre-Tax Profit in Q1

Ljubljana, 18 May (STA) - Slovenia's biggest insurer Zavarovalnica Triglav posted a pre-tax profit of EUR 14.7m in the first quarter of 2010, which is 291% more than in the same period last year, chief supervisor Borut Jamnik said in a press release on Tuesday.

Gross premium revenues in the first three months stood at EUR 212.2m, while gross damage payouts amounted to EUR 99.4m.

According to Jamnik, the successful quarter is a consequence of consistency in the implementation of Triglav's business policy, improvement of the situation on financial markets and optimism returning on stock markets.

The supervisors confirmed today the audited business reports of the core company and the Triglav group for 2009. The core company accumulated premiums of EUR 744.5m last year and had a net loss of EUR 1.8m.

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