The S&P Global Global Ratings reaffirms the „A“ credit rating with a stable medium-term outlook of the Triglav Group and thereby of its parent company along with its subsidiary. S&P states the decision reflects a very strong capitalization of the Triglav Group and its profitable operations on account of its underwriting discipline, effective reinsurance protection, a high level of digitalization and benefits from economies of scale due to its leading regional market position.

According to S&P, the Triglav Group’s business risk profile remains strong. Group achieved this due to its client-centric approach and its profitable operations in both of its core activities – insurance and asset management. Regarding its operations, Triglav uses its advantages arising from its leading market position in the Slovenian market and the region. S&P also emphasized Triglav’s strong brand, well-diversified range of products and services along with the Group’s achieved level of business digitalization. According to S&P, Triglav’s operations are resilient enough to maintain cost-effectiveness and an appropriate pricing policy, along with the potential to increase volume and as a result, achieve stable and strong earnings even during times marked by high inflation. Regarding ESG factors, S&P assesses Triglav’s impact on credit rating as neutral.

Furthermore, S&P assessed Triglav’s financial risk profile as very strong, as Triglav maintained a very robust capital position at the „AAA“ level according to S&P risk-based capital model. Also, the agency emphasizes that Triglav’s liquidity is very high.

Overall, S&P put Triglav’s medium-term outlook as „stable“ as a result of all aforementioned. The agency believes that the Group will continue to effectively implement its business strategy at least over the next two years and as a result, the agency expects Triglav to remain very strong capitalization at least in the „AA“ range over the next two to three years.