In accordance with the Ljubljana Stock Exchange Rules and the applicable legislation, ZAVAROVALNICA TRIGLAV d.d., Ljubljana is hereby publishing the following notice:

The Supervisory Board of Zavarovalnica Triglav approved the Audited Annual Report of the Triglav Group and its parent company for 2022. In the challenging situation in 2022, the Group performed well, maintaining its financial stability and dominant market position in the region. The Group's total revenue in the amount of EUR 1,599.3 million was up by 10% over the year before, of which gross written premium accounted for EUR 1,479.6 million (up by 9% over 2021). The Group's profit before tax amounted to EUR 134.5 million, up by 1% relative to the previous year. The Management Board and the Supervisory Board will propose to this year's General Meeting of Shareholders to pay the dividend of EUR 2.50 gross per share or EUR 56.8 million in total, representing slightly more than 50% of the Group’s net profit for 2022.

The Triglav Group achieved good results in last year's challenging situation, which was marked by rising inflation and an unfavourable situation in the financial markets. The Group's good results confirm the robustness of its business model and the success of its strategy. The Group generated a profit before tax of EUR 134.5 million in 2022, up by 1% over the previous year. The good results were influenced by the increased business volume and certain one-off or non-recurring effects. The Group's total revenue (EUR 1,599.3 million) was up by 10% over the year before, of which gross written premium accounted for EUR 1,479.6 million, up by 9% over 2021. Premium growth was recorded in all three insurance segments and in all insurance markets, with the Group either increasing or maintaining its market position. The overall situation resulted in a 13% growth in gross claims paid (EUR 832.2 million) and a 12% growth in operating expenses (EUR 374.9 million). The Group's combined ratio was favourable, standing at 88.1%, primarily as a result of an improved claims ratio due to the partial release of claims provisions with the aim of bringing their amount closer to the estimated value according to IFRS 17. Interest rate hikes and share price falls in the financial markets resulted in an 11% decrease in the investment portfolio, which amounted to EUR 3,271.2 million; returns on the investment portfolio were negative at EUR –15.7 million.

The Group was assigned high “A” credit ratings with a stable medium-term outlook in 2022 by the credit rating agencies S&P Global Ratings and AM Best. Despite higher risks, the Group maintained a high capital adequacy of 200%. The two reports that provide more detailed information on the solvency and financial condition of the Triglav Group and its parent company are available at www.triglav.eu.

IMPLEMENTATION OF THE DIVIDEND POLICY. The Management Board and the Supervisory Board will propose to this year's General Meeting of Shareholders to pay the dividend of EUR 2.50 gross per share, representing slightly more than 50% of the Group’s consolidated net profit for 2022. With the proposed dividend, the dividend yield at the current share price is 6.3%. The Company is expected to announce the convening of the regular General Meeting of Shareholders on 21 April 2023, scheduled to take place on 6 June 2023.

THE TRIGLAV GROUP STRATEGY AND ITS SUSTAINABLE AMBITIONS (ESG). The Triglav Group's main strategic objective is to achieve an outstanding and uniform user experience across all channels, all processes, all products and Group companies, which is pursued by continuing its digital transformation and developing service-oriented business ecosystems. In 2022, the Group continued with the digitalisation of its assistance, sales and claims procedures and the development of a single platform for client communication and service. In addition, several internal processes have already been equipped with tools for robotic process automation. The ecosystems in key areas of health, financial services, mobility, living and pets continued to be linked in both the single platform and the Triglav komplet loyalty programme. The Group expanded not only the range of its partners, with whom it shares common business principles and the goal of achieving high client satisfaction, but also the range of assistance and related services. 

The Triglav Group pursues its sustainable development strategic ambitions in the environmental, social and governance areas. In both core activities, the range of services that promote social and environmental benefits is being expanded. In its investment portfolio, the share of green, sustainable and social impact bonds is on the rise. It also reduced the carbon footprint of its own processes. The Group continues to be closely involved in socially and environmentally responsible projects, partnerships and donations. It follows high corporate governance standards in its operations and nurtures a culture of diversity and inclusion, recognising the opportunities it brings. The Group participates in the international initiatives of UN PSI, UNEP FI and the PCAF partnership, which implement the principles of sustainable development, and reports in accordance with the GRI, SASB sustainability standards and according to the CDP climate change questionnaire.

The enclosed PDF version of the Audited Annual Report of the Triglav Group and its parent company for 2022 is designed in accordance with the MAR Regulation and is unofficial. Pursuant to Commission Delegated Regulation (EU) 2019/815 and paragraph one of Article 134 of the Market in Financial Instruments Act (ZTFI-1), the official version of the report is designed in the ESEF format and published in a separate announcement.

This information will be published on the website of Zavarovalnica Triglav d.d. at www.triglav.eu as of 31 March 2023 and will remain available on the Company’s public website for a period of at least five years.