We are satisfied with the results achieved in the first half of the year

The Group Triglav has reported a 13 percent increase in overall business volume during the first half of the year compared to the same period last year, reaching 1.1987 billion euros. This growth was driven by strong performance across all regional markets, with particularly notable gains on the Italian market. The pre-tax operating profit amounted to 105.2 million euros, down slightly from 109.6 million euros recorded in the same period last year. The net operating profit stood at 85.7 million euros, compared to 91.4 million euros in the previous year’s first half. The combined ratio was 93.9 percent, improving from 88.2 percent in the prior year. The return on new life insurance business reached 13.9 percent, up from 12.2 percent. The annualized return on capital was 16.5 percent, lower than the 19.2 percent achieved last year. Capital adequacy at the end of the half-year was estimated at 207 percent, within the target range of 200 to 250 percent. President of the Insurance Company Triglav, Andrej Slapar, stated: “We are satisfied with the results achieved in the first half. We have generated a pre-tax operating profit of 105.2 million euros in the first half. Taking into account the expected conditions until the end of the year, we estimate that we will achieve the planned annual pre-tax operating profit of between 170 and 190 million euros. The half-year results confirm the resilience of our business model, which strategically relies on diversified operations across segments, activities, and markets. We have strengthened business operations on all markets of the Adriatic region, with particular support from growth on international insurance markets. The achieved operating result was influenced by increased business volume and favorable results from investment activities, while on the other hand, adverse events, which were more intense due to higher natural catastrophe losses. Despite this, we have maintained a good profitability of the insurance business and a favorable combined ratio. Special attention was given to effective risk management and maintaining financial and capital strength of the Group. This is confirmed by the high credit rating of A+ with a stable medium-term outlook. We are pleased that trust in our business and future development of the Group is reflected in the trading price of Triglav shares. We remain committed to creating long-term value for shareholders, employees, and the broader society. Achieving these goals is based on knowledge, dedication, and good cooperation of our employees, for which I sincerely thank them.” The Group Triglav increased its overall business volume by 13 percent, reaching 1.1987 billion euros. Calculated insurance premiums also showed a 13 percent growth, reaching 1.1551 billion euros. From the perspective of business segments, the highest, 21 percent increase in business volume was achieved by the Wealth Management segment, generating 770.3 million euros. The highest premium growth was observed on the Italian market. The Life segment increased its business volume by 9 percent, reaching 145.4 million euros. The Health segment saw a 13 percent increase, reaching 33.8 million euros. The Investment Management segment grew by 7 percent, reaching 62.1 million euros. In the Protection segment, the business volume was 187.0 million euros, which is 10 percent less than in the same period last year, primarily due to mid-year fluctuations in business with some clients. From the market perspective, the business volume on the Slovenian market increased by 4 percent, while on other Adriatic region markets it averaged a 10 percent increase. The highest growth was recorded on international markets, where the business volume increased by 31 percent, reaching 395.0 million euros. This was largely contributed by business on the Italian market. Triglav continues to pursue geographical diversification of its business in accordance with strategic ambitions. The share of business generated on international markets (outside the Adriatic region) increased to 33 percent (from 28 percent last year), while the share of the Slovenian market decreased to 49 percent (from 53 percent last year). Markets of the Adriatic region (excluding Slovenia) accounted for 18 percent of total business volume (from 19 percent last year). International business was almost evenly distributed among the insurance companies.