Business News

Triglav's Profit Up Despite Lower Revenues

Ljubljana, 25 November (STA) - Insurer Zavarovalnica Triglav posted a net profit for the January-September period of EUR 32m, up 14% year-on-year, despite a drop in gross premium revenues of 3% to EUR 566.8m, the company said on Thursday.

The market leader in Slovenia said the economic crisis depressed demand in particular for life and accident insurance, but agricultural and car insurance segments also contracted.

Payouts for natural disasters in the first nine months of the year are expected to amount to EUR 40m, but this is not expected to have significant impact on the bottom line, the company said after a supervisory board meeting.

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