The third largest Slovenian insurer is for sale

Slovenian financial holding KD Group announced, in a statement posted on Ljubljana Stock Exchange's website, that its management board reviewed the group's strategic guidelines, choosing LAZARD as a financial consultant to find a strategic investor for a majority stake in its fully owned insurer ADRIATIC SLOVENICA.

Click here to read the announcement.

ADRIATIC SLOVENICA is the result of the acquisition made by insurer SLOVENICA (established in 1992, and owned by KD Holding since 1996) when it bought in 1999 the insurer ADRIATIC (founded in 1990).

Highlights of the company in 2016, according to the "Annual Report 2016" published on ADRIATIC SLOVENICA's website:
  • Share capital: EUR 42.99 million
  • No. of shares: 10,304,407
  • Shareholder structure: 100% KD Group
  • Gross written premiums: EUR 303.5 million
  • Gross claims paid: EUR 218.7 million
  • Market share: 15.1%
  • Profit before tax: EUR 11.0 million
  • Net profit: EUR 11.9 million
  • Employees: 1,140
  • Return on investment: 6.0%
  • Return on equity: 12.1%
  • Combined ratio (health insurance): 102.2%
  • Combined ratio (other insurance): 94.4%
According to 1H2017 market figures published by the Slovenian Insurance Association, ADRIATIC SLOVENICA was the third largest insurer in the country (GWP of EUR 161.9 million, up by 4.5% y-o-y) with a market share of 13.9%, behind Zavarovalnica TRIGLAV (29.2%) and Zavarovalnica SAVA (18.3%). The company collected EUR 33.9 million in life GWP, and EUR 128 million - non-life GWP.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

Sylva de FLUITER takes over as head of UNIQA Re AG

Sylva de FLUITER will take over as head of UNIQA Re AG in Zurich as of 1 January 2019, the Austrian group announced. Until year end she will work hand in hand with long-time Managing Director Hans Uwe MULLER, who will retire after 14 years at UNIQA Re.

2018-12-12

MERCER to name Bala VISWANATHAN Chief Operating Officer

MERCER, the consulting subsidiary of MMC - Marsh & McLennan Companies, announced that Bala VISWANATHAN, CEO of Jardine Lloyd Thompson Group plc (JLT) UK & Ireland Employee Benefits, will join MERCER as Chief Operating Officer.

2018-12-12

MetLife named its EMEA head as CEO of Japan unit

MetLife announced that Eric CLURFAIN, currently Executive Vice President and Head of EMEA, has been named Chairman, President and CEO of MetLife Japan - the company's second largest market globally and its largest retail life insurance business, effective Feb. 1, 2019, following approvals.

2018-12-06

American International Group appoints new CFO

American International Group announced that it has appointed Mark LYONS to the role of Executive Vice President & Chief Financial Officer (CFO). He succeeds Sid SANKARAN, who will remain at AIG in an advisory capacity through the year-end reporting process for fiscal year 2018.

2018-12-06

ON THE MOVE

AIG Life announces new UK CEO

AIG U.K. Life Ltd. announced the appointment of Philip WILLCOCK - the former CEO of AVIVA's Indonesian and Italian ventures - as CEO, subject to regulatory approval, effective March 1, 2019. He will be based in London and will report to Adam WINSLOW, CEO, International, Life & Retirement.

13.12.2018

Sylva de FLUITER takes over as head of UNIQA Re AG

Sylva de FLUITER will take over as head of UNIQA Re AG in Zurich as of 1 January 2019, the Austrian group announced. Until year end she will work hand in hand with long-time Managing Director Hans Uwe MULLER, who will retire after 14 years at UNIQA Re.

12.12.2018

MERCER to name Bala VISWANATHAN Chief Operating Officer

MERCER, the consulting subsidiary of MMC - Marsh & McLennan Companies, announced that Bala VISWANATHAN, CEO of Jardine Lloyd Thompson Group plc (JLT) UK & Ireland Employee Benefits, will join MERCER as Chief Operating Officer.

12.12.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all