Key Developments: Zavarovalnica Triglav dd (ZVTG.LJ)

ZVTG.LJ on Ljubljana Stock Exchange

23.80EUR
20 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Standard & Poor’s assigns credit ratings at Zavarovalnica Triglav dd at A- with stable medium-term outlook
Monday, 7 Jul 2014 09:25am EDT 

Zavarovalnica Triglav dd:On July 7, the Standard & Poor’s credit rating agency affirmed the Triglav Group’s existing long-term credit rating and financial strength credit rating at 'A-.Thereby the S&P once again affirmed the "A-" long-term credit rating and financial strength rating of the Company and its subsidiary Pozavarovalnica Triglav Re dd.The credit ratings of both companies, Zavarovalnica Triglav d.d. and Pozavarovalnica Triglav Re d.d., have a stable medium-term outlook.The credit ratings of the Triglav Group, i.e. Zavarovalnica Triglav d.d. and Pozavarovalnica Triglav Re dd reflects the persisting view of the S&P that the Triglav Group is capable of preserving its strong competitive position, capital adequacy and high profitability.  Full Article

Zavarovalnica Triglav dd announces FY 2013 dividend
Tuesday, 10 Jun 2014 12:20pm EDT 

Zavarovalnica Triglav dd:Adopts resolution concerning its accumulated profit for the 2013 fiscal year.Is to allocate part of accumulated profit in the amount of 38,649,751.60 euros for dividend payments amounting to 1.70 euros gross per share payable to the shareholders appearing in the Share Register two days following the date of the General Meeting of Shareholders.The dividends shall be paid within 30 days of the date this resolution is passed.  Full Article

Zavarovalnica Triglav dd announces counter-proposal on dividend payment
Monday, 19 May 2014 06:03am EDT 

Zavarovalnica Triglav dd:Following the counter-proposal at the General Meeting of Shareholders the proposed amount of dividend is equal to 2.5 euros per share.  Full Article

Zavarovalnica Triglav dd announces FY 2013 dividend
Monday, 7 Apr 2014 11:01am EDT 

Zavarovalnica Triglav dd:Adopts a resolution concerning dividend payment for the 2013 fiscal year.The company is to allocate 25,008,662.80 euros, which is 1.10 euros gross per share for dividend payment for the 2013 fiscal year.The dividend is to be paid within 30 days running from adoption of this resolution.  Full Article

Zavarovalnica Triglav dd issues financial guidance for Triglav Group for FY 2014
Thursday, 19 Dec 2013 02:03pm EST 

Zavarovalnica Triglav dd:Says the Triglav Group expects to report net profit at 65.6 million euros and its profit before tax is set at 75.9 million euros.Says the capital of the Triglav Group is planned to reach 606.1 million euros.Says the Triglav Group plans to book 902.1 million euros in consolidated gross written premium.Says according to the plan, the combined ratio will reach 96.3% in the 2014 fiscal year.Says for the 2014 fiscal year, insurance companies in the Triglav Group expect 232.4 million euros of gross operating expenses.  Full Article

Zavarovalnica Triglav dd Receives Decision on Violation of the Securities Market Agency
Thursday, 22 Aug 2013 10:09am EDT 

Zavarovalnica Triglav dd announced that on August 21, 2013, it received a decision on violation issued by the Securities Market Agency sanctioning the infringement committed by the Company in violation of Article 566 § 1, Item 4 of the Financial Instruments Market Act (ZTFI) and by the person in charge in violation of § 3, pertaining to 566 § 1, Item 4 of the Financial Instruments Market Act. The decision of the Securities Market Agency states that the infringement is related to an inadequate publication of the amount of dividend proposed by the Management Board to the General Meeting of Shareholders announced on April 11, 2013 on the Ljubljana Stock Exchange. The Securities Market Agency sanctioned Zavarovalnica Triglav dd and the person in charge by issuing warnings about the abovementioned violations to both parties.  Full Article

mr. Matjaz Rakovec Filed Lawsuit Against Zavarovalnica Triglav dd
Tuesday, 20 Aug 2013 02:31am EDT 

Zavarovalnica Triglav dd announced that on August 19, 2013, it has received a lawsuit filed by Matjaz Rakovec for annulment of the resolution adopted by the Supervisory Board on May 22, 2013, concerning dismissal of Chairman of the Management Board and appointment the new Chairman. Mr Rakovec requested that the entry in the Register which amends the name of the Chairman of the Management Board be declared null and void and claimed for payment of damages totalling EUR 516,399.42. In addition, Mr. Rakovec claims from Zavarovalnica Triglav d.d. to call him to assume the office of the Chairman of the Management Board and to be granted all the rights arising from his job contract dated and annexes pertaining thereto for the entire period from the date of the termination of the office of the Chairman of the Management Board to the date of reassuming the office.  Full Article

Supreme Court of Republic of Slovenia Rejects Review Requested by Zavarovalnica Triglav dd Concerning Decision of Higher Court of Koper in Proceedings Between Company and Istrabenz Holdinska druzba dd
Tuesday, 20 Aug 2013 02:30am EDT 

Zavarovalnica Triglav dd announced that on August 19, 2013, it has received a decision of the Supreme Court of the Republic of Slovenia in response to its request for the judicial review of the decision issued by the Higher Court of Koper on February 10, 2011 in the case of Zavarovalnica Triglav dd and Istrabenz Holdinska druzba dd, claiming EUR 19,950,000 with default interest, which rejected Zavarovalnica Triglav’s appeal and confirmed the decision of the court of first instance of February 9, 2010. The Supreme Court of the Republic of Slovenia decided to reject the review requested by Zavarovalnica Triglav dd.  Full Article

Powszechny Zaklad Ubezpieczen SA Eyes Buying Slovenia's Insurer Zavarovalnica Triglav dd-Reuters
Wednesday, 17 Jul 2013 09:57am EDT 

Reuters reported that Powszechny Zaklad Ubezpieczen SA is interested in taking over Slovenia's Zavarovalnica Triglav dd, PZU chief executive said. Terms of the transaction were not disclosed.  Full Article

Standard & Poor's Rating Services Raises Ratings of Zavarovalnica Triglav dd
Saturday, 6 Jul 2013 07:57am EDT 

Zavarovalnica Triglav dd announced that Standard & Poor's Rating Services has raised the Company's credit rating applying to Zavarovalnica Triglav dd and Pozavarovalnica Triglav Re dd by one notch from BBB+ to A- and issued a stable medium-term outlook.The credit rating increase is the result of the Agency's view that Triglav Group has consolidated its capital and earnings at very strong levels. The S&P's credit rating also reflects Triglav Group's prudent margins on property/casualty technical reserves and improved net retained earnings. The A- rating reflects Triglav Group's satisfactory business risk profile, enhanced by its position on the Slovene insurance market, and strong financial risk profile.  Full Article

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