Triglav Group Publishes 2022 Business Plan

Triglav expects EBT to reach EUR 120 – 130m in 2022.

Triglav Group published their business plan for 2022 according to which they expect the following:

  • GWPs: over EUR 1.4bn
  • EBT: EUR 120 – 130m
  • Combined ratio: <93%

Given very solid 9M 2021 results (our company note is available to research subscribers), the company also revised their FY 2021 EBT target from initial EUR 85 – 95m to EUR 115 – 125m.  

The company notes that for 2022, subject to continued underwriting discipline, premium growth is planned in existing markets of region and from crossborder insurance services in EU markets. Increased claims are planned predominantly due to growth of the insurance portfolio. In terms of CAT events, similar trends are expected as in previous years. Moreover, the Group’s provisions are expected to be under influence of favourable development of claims provisions, which were conservatively formed in recent years.

Revised Strategy to 2025: 

Key guidelines of the existing strategy were not changed but upgraded to reflect the goals of growth and development and the client-centric approach. To this end, the Group is continuing with digital transformation and the development of service-oriented business models and ecosystems that address interrelated client needs.

The operations of Triglav Group, the leading insurance-financial group in the Adria region, are planned to remain profitable and safe. In the strategy period, a 10% ROE is planned and in 2025 total income is projected to exceed EUR 1.6bn.

Category : Flash News

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