Largest Slovenian insurer taps into the market

Triglav, the largest insurance company in Slovenia, intends to expand its operations in Central and Eastern European countries, including Romania, said the company’s general manager, Andrej Kocic, cited by Bloomberg. The insurer’s goal is to become leader of the Balkan market. “We are very interested in the neighbouring countries, Albania, Romania, Bulgaria and Ukraine. It is a natural step as part of our expansion,” said Kocic. The growth rate of the insurance market in Romania, 30-40% a year, has attracted many important players in the region over the last few years, such as the Austrians at Vienna Insurance Group and at Uniqa, the Czechs at PPF Investments, the Hungarian group OTP and the French at Cardif. Other entries onto the life insurance market, announced for next year, include the Germans at Ergo and the French group Soci?t? G?n?rale. Triglav, which operates in general, life insurance and reinsurance, holds companies in Croatia, Bosnia-Hertzegovina, Serbia and Montenegro, as well as in Slovakia and the Czech Republic.