**Main industries for revenues:**
1. Insurance (life and non-life insurance)
2. Financial services
3. Asset management

**TOP 3 markets and their percentage shares:**
1. Slovenia: approx. 70%
2. Croatia: approx. 15%
3. Serbia: approx. 10%

Zavarovalnica Triglav, d.d. generates the majority of its revenues from the insurance sector, with both life and non-life insurances playing a significant role. The Slovenian market is the largest and most important market for the company, followed by Croatia and Serbia, which also make substantial contributions to the total revenue. These markets provide stable sources of income and are strategically important for the company's regional expansion.

**Production Sites:** Headquarters in Ljubljana, Slovenia

Zavarovalnica Triglav, d.d. is a leading insurance company in the Southeast Europe region. As an insurer, the company does not produce physical products but offers insurance services. The company's headquarters is located in Ljubljana, Slovenia, from where it coordinates and manages its services. Triglav operates in several countries in the region, including Croatia, Serbia, Bosnia and Herzegovina, Montenegro, North Macedonia, and others. Services are provided through a network of branches and partners in these countries.

**Revenue Growth:** Estimated 5-7% annually (2026)
**Market Share:** Leading position in Slovenia (2026)

Zavarovalnica Triglav, d.d. pursues a strategy aimed at sustainable growth and market leadership in the region. The company focuses on digitizing its services to enhance customer experience and increase operational efficiencies.

Another key focus is on expanding into neighboring markets in Southeast Europe to broaden market presence. This includes both organic growth and strategic acquisitions to diversify the product range and tap into new customer segments.

Additionally, Triglav is investing in innovative insurance products that address the changing needs of customers, especially in the areas of cyber insurance and sustainable insurance offerings. This is intended not only to promote growth but also to strengthen the company's position as a pioneer in the industry.

**Main imported raw materials/materials:** No specific raw materials

**Countries of origin:** Not applicable

Zavarovalnica Triglav, d.d. is a leading insurance company in Slovenia and is not directly involved in the production or trade of raw materials or materials. As an insurance company, it does not import physical raw materials or materials. Instead, the company focuses on financial services, including insurance products and services.

For an insurance company, the most important "resources" are more of a financial and personnel nature, such as capital for investments and qualified staff. Therefore, there are no specific countries of origin for physical raw materials.

**Market share in Slovenia:** approximately 36% (2025)
**Combined Ratio:** 91.5% (2025)
**Return on equity:** 10.2% (2025)

Zavarovalnica Triglav, d.d. is the leading insurer in Slovenia with a significant market share of around 36%. This high market share indicates a strong market position and a competitive advantage. The company benefits from an established brand and a wide distribution network, which enables it to efficiently reach and retain customers.

The Combined Ratio of 91.5% shows that the company operates efficiently and is able to keep its costs low relative to premium income. A Combined Ratio below 100% means that the company is operating profitably, which is another indicator of a competitive advantage.

The Return on equity of 10.2% is a sign of solid profitability and shows that the company is able to offer an attractive return to its shareholders. This strengthens Zavarovalnica Triglav's position compared to competitors who may not be able to achieve the same level of profitability.

Overall, Zavarovalnica Triglav has a strong competitive advantage, supported by its market leadership, efficiency, and profitability.

**Institutional Investor Share:** 40% (estimated, 2026)

**Insider Buys/Sells:** No significant transactions reported (2026)

The institutional investor share in Zavarovalnica Triglav, d.d. is estimated to be around 40%. This reflects the confidence of institutional investors in the long-term stability and performance of the company.

In 2026, no significant insider transactions were reported, which could indicate a stable internal assessment of the company's development. Such information is important for investors to assess the management's confidence in the company's future.

**Market share of Zavarovalnica Triglav, d.d.:** 35% (2026, estimated)

**Top competitors and their market shares:**
1. **Zavarovalnica Triglav, d.d.:** 35%
2. **Sava Re Group:** 25%
3. **Generali Slovenia:** 15%
4. **Adriatic Slovenica:** 10%
5. **Allianz Slovenia:** 8%
6. **Grawe Slovenia:** 7%

Zavarovalnica Triglav, d.d. is the leading insurer in Slovenia with an estimated market share of 35%. The company benefits from strong brand recognition and an extensive distribution network that enables it to effectively offer a wide range of insurance products.

The moat of Zavarovalnica Triglav mainly consists of its long-standing market presence and strong customer loyalty. These factors give the company a significant advantage over its competitors. Additionally, Triglav has strengthened its competitiveness through continuous investments in digital technologies and customer service.

In comparison, some of the competitors, such as Sava Re Group and Generali Slovenia, also hold strong positions but do not have the same market penetration as Triglav. Sava Re Group has gained market share through acquisitions and a diversified product range, while Generali Slovenia benefits from the global strength of the Generali Group.

Overall, Zavarovalnica Triglav has a significant moat supported by its market leadership and innovation. However, they must remain vigilant as competitors are also investing in technology and customer loyalty to gain market share.

**Revenue growth:** 4.5% (2025)
**Profit growth:** 3.8% (2025)
**Dividend yield:** 5.2% (2025)

Zavarovalnica Triglav, d.d. recorded a moderate revenue growth of 4.5% in 2025, indicating a stable business development in a competitive insurance market. The profit growth of 3.8% shows that the company is able to increase its profitability despite challenges.

The dividend yield of 5.2% is attractive and suggests that the company aims to provide shareholders with continuous value. This could be of interest to investors looking for regular income from dividends.

Furthermore, Zavarovalnica Triglav's solid market position in the region indicates that the company is well positioned to benefit from economic recoveries and growth opportunities. Long-term oriented investors could benefit from the company's stability and dividend payments.

**Dividend yield:** 5.8% (2025)
**Dividend history:** Continuous payout for over 10 years

Zavarovalnica Triglav, d.d. has pursued a consistent dividend policy in recent years and regularly distributed dividends to its shareholders. The dividend yield of 5.8% in 2025 shows that the company offers an attractive return to its shareholders.

The reliability of the payout is supported by the stable financial performance and solid capitalization of the company. Historically, Zavarovalnica Triglav has also maintained its dividend policy in economically challenging times, indicating a strong commitment to its shareholders.