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Triglav Group Triglav Group Audited consolidated annual report for the year ended at December MANAGEMENT BOARD: President: Members: Ljubljana, "# March "&' WorldReginfo - 8fab634d-bd99-4b97-a352-e98eb0bd996d ZAVAROVALNICA TRIGLAV D.D. HEADQUARTERS MIKLOŠIČEVA CESTA , LJUBLJANA MANAGEMENT REPORT OF THE TRIGLAV GOUP FOR Ljubljana, . March # WorldReginfo - 8fab634d-bd99-4b97-a352-e98eb0bd996d MANAGEMENT REPORT OF THE TRIGLAV GROUP FOR CONTENTS: . THE TRIGLAV GROUP IN ...................................................................................................................... # . STRATEGY AND PLANES OF THE TRIGLAV GROUP ................................................................................... #. CORPORATE GOVERNANCE STATEMENT .................................................................................................. ' (. SHARE CAPITAL AND SHAREHOLDERS OF ZAVAROVALNICA TRIGLAV .................................................. ). DEVELOPMENT AND SALES ACTIVITIES ..................................................................................................... #' '. PERFORMANCE OF THE TRIGLAV GROUP ................................................................................................. (' *. FINANCIAL RESULT OF THE TRIGLAV GROUP IN ............................................................................. '' +. FINANCIAL STANDING OF THE TRIGLAV GROUP IN ........................................................................ ' . CASH FLOW STATEMENT ............................................................................................................................ * . RISK MANAGEMENT ................................................................................................................................... *# . SUSTAINABLE DEVELOPMENT UN THE TRIGLAV GROUP......................................................................... ++ . SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD ..................................................... #. INFORMATION ON THE TRIGLAV GROUP AS AT # DECEMBER .................................................. (. SALES NETWORK OF THE TRIGLAV GROUP ............................................................................................. ' WorldReginfo - 8fab634d-bd99-4b97-a352-e98eb0bd996d MANAGEMENT REPORT OF THE TRIGLAV GROUP FOR . THE TRIGLAV GROUP IN - Despite the challenging economic situation, Zavarovalnica Triglav and the Triglav Group were successfully consolidating their position among the leading insurance/financial institutions in Central Europe and posted higher profit than in . - The Group continued consolidating ownership of its subsidiaries. Financial highlights of the Triglav Group in million EUR Index / / Gross written premium from insurance and co-insurance contracts . Net premium earned . Gross claims paid* . Net claims incurred . Gross operating costs . Gross insurance contract provisions as at Dec. ,. ,. ,. Equity as at Dec. Equity attributable to the controlling company as at Dec. Profit/loss before tax . Net profit/loss . Net profit/loss attributable to the controlling company . Return on equity . . . Return on equity attributable to the controlling company . . . Number of employees as at Dec. , , , * Gross claims paid include claim handling costs and are reduced by subrogation receivables. Financial highlights of Zavarovalnica Triglav d.d. in million EUR Index / / Gross written premium from insurance and co-insurance contracts . Net premium earned . Gross claims paid* . Net claims incurred . Gross operating costs . Gross insurance contract provisions as at Dec. ,. ,. ,. Equity as at Dec. Profit/loss before tax . Net profit/loss . Return on equity . . . Number of employees as at Dec. , , , Book value per share (in EUR) . Net earnings/loss per share (in EUR) . * Gross claims paid include claim handling costs and are reduced by subrogation receivables. WorldReginfo - 8fab634d-bd99-4b97-a352-e98eb0bd996d MANAGEMENT REPORT OF THE TRIGLAV GROUP FOR .# Other economic, social and environmental impact of the Triglav Group 's operations Index / . Other economic impacts (in million EUR) Economic value generated* ,. ,. Economic value distributed ,. ,. - Net claims incurred and other insurance expenses . - Expenses from financial assets . - Other expenses . - Operating costs** . - Dividend payments . - Tax expense (income tax expense) . - Community investments (sponsorships, donations, prevention activities) . - Employee wages, allowances and benefits . Economic value retained . . Social impact (Zavarovalnica Triglav d.d.) Average training hours per employee Number of insurance policies (products, services) sold online Number of insurance products encouraging preventive actions Personal data protection (number of fines received – target is zero) Fair business practices (share of investigated fraud cases)*** - #. Impact on the environment **** Electricity consumption in MWh (Zavarovalnica Triglav d.d.) ,. - Carbon footprint (tons of CO equivalent per employee) - Zavarovalnica Triglav d.d. – Headquarters . - - Zavarovalnica Triglav d.d. – Ljubljana Regional Unit . - Waste sorting (share of employees participating in Zavarovalnica Triglav) . * Economic value generated = net premium earned and other insurance income + income from financial assets + other income. ** Operating costs include payments to suppliers, acquisition expenses etc. *** Fair business practices are followed systematically as of December . **** Environmental impacts are currently measured only in Zavarovalnica Triglav, however, the goal is to spread the corporate social responsibility guidelines to subsidiaries. Carbon footprint measurements began in Zavarovalnica Triglav. In , carbon footprint was measured for the Headquarters and the Ljubljana Regional Unit, while the goal for is to conduct measurements for the entire Zavarovalnica Triglav. For additional information please contact: Zavarovalnica Triglav, d.d., Ljubljana Miklošičeva cesta , Ljubljana Tomaž Žust, Director of Strategic Planning and Controlling Department Phone: ++ () Fax: ++ () E-mail: [email protected] GRI ., EC indicator WorldReginfo - 8fab634d-bd99-4b97-a352-e98eb0bd996d MANAGEMENT REPORT OF THE TRIGLAV GROUP FOR .( Financial calendar Calendar of financial announcements for Type of announcement Planned date of announcement* Announcement of unaudited financial statements for Wednesday March Audited Annual Report of Zavarovalnica Triglav d.d. and the Triglav Group for Friday March Statement of compliance with the Corporate Governance Code Friday March Notice of the General Meeting of Shareholders of Zavarovalnica Triglav d.d. deciding on the distribution of accumulated profit Friday May Results for the first quarter of Friday May General Meeting of Shareholders of Zavarovalnica Triglav d.d. deciding on the distribution of accumulated profit Tuesday June Resolutions by the General Meeting of Shareholders of Zavarovalnica Triglav d.d. on the distribution of accumulated profit Wednesday June Semi-Annual Report of Zavarovalnica Triglav d.d. and the Triglav Group for Friday August Results for the first three quarters of Friday November * Announcement dates as planned. The actual dates may differ from the planned dates. Periodic announcements and other cost-sensitive data will be published on the Ljubljana Stock Exchange information system SEOnet ( www.ljse.si ) and on the official website of Zavarovalnica Triglav d.d ( www.triglav.eu ). .) Activities, markets and position of the Triglav Group The Triglav Group is the leading insurance/financial group in Slovenia and one of the leading groups in South-East Europe, where it is gaining ground and expanding its operations. It is present in eight markets and seven countries. The Group’s key business pillars are: • insurance; • asset management; • banking; and • support activities for the three key financial pillars. .). Insurance is the core business of the Triglav Group which accounts for the bulk of its operations. It includes non-life, life, supplemental voluntary pension and health insurance. The insurance-oriented part of the Group encompasses: • in Slovenia: Zavarovalnica Triglav d.d., Triglav Zdravstvena zavarovalnica d.d. and Pozavarovalnica Triglav Re d.d.; • abroad: insurance undertakings in the Czech Republic, Croatia, Slovakia, Bosnia and Herzegovina, Montenegro, Serbia and Macedonia. .).. Position on the regional insurance market On the list of the largest insurance groups in the Adria region, in (Deloitte survey, published in September ), the Triglav Group again ranks first in terms of gross written premium from life and non-life insurance. The Adria region includes Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Montenegro, and Macedonia. DMA PR; DMA EC WorldReginfo - 8fab634d-bd99-4b97-a352-e98eb0bd996d MANAGEMENT REPORT OF THE TRIGLAV GROUP FOR The market share of the Triglav Group in the Adria region in (in ) Triglav Group . Croatia Group . Adriatic Slovenica . Agram Group . Zavarovalnica Maribor . Vzajemna . Generali Group . Kvarner Vienna Insurance Group . Dunav Group . Allianz . Grawe Group . Sava RE Group . Uniqua Group . Merkur Group . DDOR . Source: Deloitte, September In , in terms of gross written premiums from life and non-life insurance, the Triglav Group is the sixth strongest insurance company in Central Europe. Largest insurance companies in Central Europe by
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