Following its regular annual revision, the AM Best credit rating agency re-affirmed the Financial Strength Rating of “A” (Excellent) and the Long-Term Issuer Credit Ratings of “a” of both Zavarovalnica Triglav and Pozavarovalnica Triglav Re.

Both credit ratings have a stable medium-term outlook, which reflects the agency’s expectations that Triglav Group will maintain strong operating performance in the medium term, a very strong financial position and its dominant market position in Slovenia and the region where the Group operates.

AM Best assesses Triglav Group’s balance sheet strength as very strong and its operating performance as strong, the impact of both the business profile and the majority holding on the credit rating as neutral, and its risk management as appropriate given the complexity and scope of its operations. By affirming the high credit rating of the subsidiary Pozavarovalnica Triglav Re, AM Best highlighted its strategic importance as the reinsurer of all Triglav Group members and its strong integration into the Group.

The Group’s very strong balance sheet is underpinned by its risk-adjusted capitalization at the strongest level. In the life insurance portfolio, the Group is reducing its exposure to products with a guaranteed return and has further improved its asset and liability management. Furthermore, the Group has a prudent reserving approach and good financial flexibility with access to equity and bond markets.   

The Group’s strong operating performance over the recent years has been driven by the excellent non-life insurance technical earnings in the domestic market and healthy investment income. In highly competitive markets outside Slovenia, the Group is constantly increasing its volume and improving its operations, also by actively seeking alternative, cost-effective distribution channels. AM Best pointed out the benefits of the Group’s dominant position both in the Slovene market and the region. Through its various companies, the Group is a global provider of insurance and reinsurance services, leading to a well-diversified portfolio by product/service and geography.