AM Best reaffirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of “a” of both Zavarovalnica Triglav and Pozavarovalnica Triglav Re. 

Earlier this morning, Triglav Group published a document on the Ljubljana Stock Exchange stating that 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. The both ratings have a stable medium-term outlook, which reflects the rating agency’s expectations that Triglav Group will maintain very strong balance sheet strength, strong operating performance and the dominant market position both in Slovenia and the region where the Group operates.

According to AM Best, the Group’s balance sheet strength and its operating performance are strong, while the impact of both the business profile and the majority shareholding on the credit rating is neutral. It further points out that the Group’s enterprise risk management is developed and appropriate for its risk profile and operational scope and complexity. AM Best points out that Triglav’s solid operating performance over the years has been driven by the excellent non-life insurance technical earnings in the domestic market and healthy investment income. Besides that Triglav has a well-diversified portfolio by both product and geography. Moreover, outside of Slovenia, Triglav continues to demonstrate improvement in earnings on the basis of additional scale and actively seeking alternative lower cost distribution channels.