Zavarovalnica Triglav dd : Triglav Group Maintains a High Credit Rating
September 26, 2014 at 10:21 am EDT
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Stable medium-term outlook for Zavarovalnica Triglav and Pozavarovalnica Triglav RE
Ljubljana, 26 September 2014 - On 26 September 2014, the Standard & Poor's Ratings Services confirmed a current "A-" (excellent) long-term credit rating and an "A-" (excellent) financial strength rating of Zavarovalnica Triglav together with its subsidiary Pozavarovalnica Triglav Re and thereby the Triglav Group. The medium-term outlook for both ratings remains stable.
The strong competitive position of the Triglav Group in both Slovenia and the Adria region, high capital adequacy and profitability are once again confirmed by the latest outstanding S&P credit rating. Furthermore, the credit rating report states that Zavarovalnica Triglav and Pozavarovalnica Triglav Re have a clear corporate governance set-up with an independent management that makes autonomous business decisions and follows the set strategy of the Triglav Group.
According to the stable medium-term outlook in the S&P's latest report, the Triglav Group will in the future maintain its strong competitive position, high capital adequacy, balanced investment portfolio and high profitability. On the other hand, any potential further deterioration of the macroeconomic environment in Slovenia may have a negative impact on the Triglav Group's credit rating.
Zavarovalnica Triglav dd is Slovenian-based company principally engaged in the insurance and financial services. Zavarovalnica Triglav dd is the controlling company of the Triglav Group which offers insurance, asset management and banking services. Zavarovalnica Triglav dd, Zdrastvena zavarovalnica dd and Pozavarovalnica Triglav Re dd provide wealth, life, voluntary additional pension and health insurances. The insurance sector of the Company also operates in the Czech Republic, Croatia, Bosnia and Hercegovina, Montenegro, Serbia and Macedonia. Through Triglav DZU ddo, Triglav Nalozbe financna druzba dd and Triglav nepremicnine dd the Company provides investment fund management, real estate and banking services. As of June 22, 2012, the Company acquired a 100% stake in Investicijsko podjetje, Trgovanje z lastnimi nepremicninami doo from Sava dd.