Matjaz Rakovec, President of the managing board, Zavarovalnica Triglav

With IFC on board, Slovenia’s Triglav ready to step up expansion in SEE

The net profit of Triglav Group, active on seven markets across Southeast Europe as well as in the Czech Republic, rose 78% to 47.5 million euro in 2011. Return on equity at both Triglav Group and its parent company, Zavarovalnica Triglav, improved dramatically, moving closer to 12% − the target value for 2015. The combined ratio in 2011 was 90.1% at the group level. Last year saw the beginning of talks on the entry of a strategic partner, the International Finance Corporation, into the Triglav Group through the company Triglav INT, a process that was formally finalised this year.