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

Top 100 See - - Top 100 Insurers - By Ge­orgi Ge­orgiev

What mar­ket con­di­tions did Triglav Group face in 2011 in the coun­tries part of its foot­print in South­east Europe?

Sim­i­larly to most other business en­ti­ties, in its op­er­a­tions in SEE in 2011 Triglav Group was faced with the over­whelm­ing ef­fects from the Euro­pean debt cri­sis. Mar­ket confidence stag­nated, de­bates per­sisted over de­vel­op­ments in the bank­ing sec­tor, cor­po­rate fi­nanc­ing con­di­tions and the labour mar­ket sit­u­a­tion got tougher and on top of that the cri­sis in Slove­nia’s con­struc­tion in­dus­try de­te­ri­o­rated fur­ther. Pres­sure on GDP in the re­gion mounted, which was also re­flected in lower pur­chas­ing power and muted con­sump­tion.

What were some of the key mar­ket trends that shaped the group’s business per­for­mance last year and how did they dif­fer from mar­ket to mar­ket?

In SEE, unem­ploy­ment rates re­main high, house­hold in­come is low and pur­chas­ing power is on the de­crease. It is ob­vi­ous that house­hold, cor­po­rate and gen­eral govern­ment debt should go down and that the strong mar­ket play­ers are seek­ing to in­crease their foot­print.

The slight de­cline in Triglav’s gross writ­ten pre­mi­ums at group level con­tin­ued in 2011 and you have fore­cast it will ex­tend into 2012 as well. When do you an­tic­i­pate a turn­around and what fac­tors could help you achieve it?

Macroe­co­nomic trends and fur­ther de­vel­op­ment of the fi­nan­cial and eco­nomic cri­sis will play an im­por­tant role. With its new 2011-2015 Business Strat­egy, Triglav Group has un­der-

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