Credit rating of the Triglav Group and Zavarovalnica Triglav

Achieving the »A« high credit rating by the established credit rating agency is one of the most important strategic objectives of the Triglav Group (see Section Fundamental goals and characteristics of the Triglav Group Strategy for the 2013-2017 period), which was again reached in 2014 with a confirmed »A–« rating.

In 2014, the Standard & Poor's Ratings Services (hereinafter: S&P) confirmed a current »A–« (excellent) long-term credit rating and an »A–« (excellent) financial strength rating of Zavarovalnica Triglav together with its subsidiary Pozavarovalnica Triglav Re d.d., and thereby the Triglav Group. Both credit ratings have a stable medium-term outlook. According to S&P, the Triglav Group will in the future maintain its strong competitive position, high capital adequacy, balanced investment portfolio and high profitability. As at the end of reporting year, the credit ratings of the Triglav Group, i.e. Zavarovalnica Triglav and Pozavarovalnica Triglav Re and the Republic of Slovenia are the same. Based on the stress tests carried out by the credit rating agency, Zavarovalnica Triglav may be rated a maximum of one notch above the sovereign rating on Slovenia.

Following its regular revision in 2014, the A.M. Best credit rating agency reaffirmed the financial strength rating of »A–« (Excellent) and issuer credit rating of »A–« (Excellent) of Zavarovalnica Triglav. Both credit ratings reflect solid risk-adjusted capitalisation, good business results and dominant competitive position in the Slovene market. A.M. Best revised the Company's medium-term outlook from "stable" to "positive". Despite challenging conditions in the insurance market in Slovenia, the credit rating agency improved Triglav’s outlook based on its continued solid performance. The Triglav Group continues to strengthen its highly renowned brand across South-East Europe and carry out planned actions towards further growth. Moreover, the A.M. Best reaffirmed the two credit ratings of financial strength issuer credit rating and of Triglav's subsidiary Pozavarovalnica Triglav Re, thereby confirming its key role and important contribution to the implementation of the Triglav Group's strategic objectives. Both credit ratings have a stable medium-term outlook.

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