Today, Triglav Group’s business risk was again assessed as strong and its financial risk profile as very strong by the S&P credit rating agency. Triglav’s credit rating of high “A”, was reaffirmed by S&P, along with stable medium-term outlook. Credit rating was based on Group’s credit profile, while agency noted that each individual elements were at the same level as the year before.
Following this year’s regular revision, S&P Global Ratings (hereinafter: S&P or the agency) reaffirmed the “A” Financial Strength Rating with a stable medium-term outlook of the Triglav Group. The credit rating is based on Group’s credit profile, while S&P emphasized that all individual elements of the rating are at the same level as last year. Further, according to the agency, Triglav’s key strength is its leading market position in the region and Slovenia along with a well-diversified insurance portfolio backed by a strong brand recognition and large agency network. Finally, The Group’s strong capitalisation is supported by its underwriting discipline and sound reinsurance protection that limits the Group’s natural catastrophe losses.
The medium-term outlook reflects S&P’s expectations that at least over the next two years the Group will maintain its strategy of profitable growth, while further diversifying premiums. Finally, despite increased natural catastrophe claims, discontinuation of its health supplemental business in Slovenia (due to government regulation) and moderating macroeconomic conditions, the Group is expected to maintain capitalisation at least at the “AA” range of S&P’s capital model.