Business News

Triglav Group Ups Profit by 23% in First Half

Ljubljana, 13 August (STA) - The group around insurance company Zavarovalnica Triglav posted a EUR 56.3m net profit for the first half of 2014, up 23.3% year-on-year. Gross written premiums were meanwhile down by 1.7% to EUR 487.8m, Zavarovalnica Triglav said in a press release on Wednesday.

The management said in the press release that both the group and the core company performed well in the first half of the year despite the unfavourable conditions on the market and extraordinary damage payouts.

In the first quarter of the year, the group posted a EUR 25.6m net profit, which is 12% more than in the same period last year. Gross premiums were down by 1% to EUR 256.1m.

In the same period the core company generated a EUR 19.1m net profit or 4% less than in the first quarter of 2013. Gross premiums were down by 1% to EUR 180m.

Zavarovalnica Triglav will publish more detailed results for the first half on 22 August.

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