Croatia’s Olderst Insurance Company Enters Slovenian Market

Total Croatia News

The total gross premium of Adris Group in the first half of 2016 was 1.81 billion kuna, which is 0.7 percent more than during the same period last year.

Adris Group and Croatia osiguranje, the insurance company owned by Adris, have received permission from the Slovenian Agency for Supervision of Insurers (AZN) for a direct access to the Slovenian market, reports on August 13, 2016.

Adris representatives have confirmed that they had obtained approval by the supervising agency to open a branch in Slovenia. The goal of Adris Group is to become the leading business group in the region. “We intend to achieve that with organic growth and with successful takeover of insurance companies. In this particular case, we remain the shareholders in Sava Re and Zavarovalnica Triglav”, they said.

Preparations for the participation in the Slovenian market are going on in parallel with the increase of the Group’s stake in Sava Re. Adris Group and Croatia osiguranje expect AZN’s decision regarding the increase in its stake in Sava Re from the current 20 to 33 percent. During the first half of 2016, Croatia osiguranje has gained a consolidated profit (after tax and minority shares) in the amount of 61.7 million kuna.

The total gross premium of the Group in the first half of 2016 amounted to 1.81 billion kuna, which is 0.7 percent more than in the same period last year. The gross premium of non-life insurance amounted to 1.45 billion kuna and recorded a slight decrease, while gross premium of life insurance amounted to 357.5 million kuna, which is an increase of 3.9 percent.

Ante Vlahović, the CEO of Adris Group, pointed out earlier that despite the economic crisis, Adris Group had achieved successes. “In the Croatian society, old values ​​are not sufficient for the challenges of the modern society, while new ones are slow to come to life. We have insisted on the distinctive value system consisting of traditional affiliation with the company, openness to new knowledge, and international business experience and passion for winning”, said Vlahović.


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