Pozavarovalnica Triglav Re, d.d.

What Pozavarovalnica Triglav Re, d.d. does

Pozavarovalnica Triglav Re, d.d. (Triglav Re) is a Slovenia-based reinsurance company founded in 1999 and headquartered in Ljubljana. It operates as the dedicated reinsurance vehicle of the Triglav Group, providing proportional and non-proportional treaty reinsurance primarily to Zavarovalnica Triglav, d.d., and its operating subsidiaries across the Adria region — Slovenia, Croatia, Bosnia and Herzegovina, Montenegro, North Macedonia, and Serbia. The company also accepts third-party reinsurance from regional cedents, diversifying its portfolio across property, motor, liability, marine and aviation, and other lines.

In 2024 the company reported total revenue of EUR 261.9 million and gross written premium of EUR 346.7 million, expanding to EUR 359.8 million in 2025. Profit before tax reached EUR 17 million in 2024, a 278% increase year-over-year, supported by an improved combined ratio of 94.9% (2023) and a capital adequacy ratio of 12.6%. Total business volume was EUR 383.1 million in 2024 and the balance sheet totaled EUR 400.9 million at year-end 2023 with EUR 113.2 million in equity.

The business model is built on long-duration reinsurance treaties ceded by primary insurers, with profitability driven by underwriting discipline, retrocession purchasing, and investment income on the premium float. The company holds an S&P A+ (stable) rating, affirmed August 2026, and an AM Best A (Excellent) rating with stable outlook, affirmed October 2025. Under the refreshed 2025-2030 Group strategy, Triglav Re is positioned for organic premium growth, prudent bolt-on acquisitions, and continued efficiency improvements alongside the broader Triglav Group's regional expansion.

Name

Pozavarovalnica Triglav Re, d.d.

Legal name

Pozavarovalnica Triglav Re, d.d.

Website

https://triglavre.si

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Pozavarovalnica Triglav Re, d.d. is the captive reinsurer of Triglav Group, providing treaty reinsurance to Group insurers and third-party cedents across the Adria region (Slovenia, Croatia, BiH, Montenegro, North Macedonia, Serbia) across property, motor, liability, and marine lines.

Ownership category

akta.pro rank

Product category

Reinsurance

NAICS

Reinsurance Carriers (524130)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

General Liability Reinsurance (FSAOABAD)

akta.pro secondary industry

Product Liability Reinsurance (FSAOABAI)

Keywords

• Reinsurance services
• Non-life reinsurance
• Property reinsurance
• Motor reinsurance
• Liability reinsurance

Headquarters

HQ city

Ljubljana

HQ country

Slovenia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Reinsurance Premium Income: The company generates revenue primarily through gross written reinsurance premiums. In 2024, gross written premium amounted to EUR 346,672,890, increasing to EUR 359,796,478 in 2025. Total revenue for 2024 was EUR 261,913,759. The company writes both group and non-group reinsurance contracts.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Pozavarovalnica Triglav Re, d.d. is a reinsurance company that provides treaty and facultative reinsurance coverage to primary insurance companies across multiple lines of business, including property, motor vehicle, liability, marine and aviation, and other non-life risks. The company operates as a wholly-owned subsidiary of Zavarovalnica Triglav, d.d. within the Triglav Group, serving clients across Slovenia, Croatia, Bosnia and Herzegovina, Montenegro, North Macedonia, and Serbia.

Product overview

Pozavarovalnica Triglav Re, d.d. is a reinsurance company that operates as a subsidiary of Zavarovalnica Triglav, d.d. within the Triglav Group. The company provides reinsurance services across multiple lines of business including Motor (23.9% of 2025 premium), Property (58.8%), Liability (6.3%), Marine and Aviation (5.8%), and Other segments (5.1%). The company's gross written premium for 2025 was EUR 359,796,478. As a sustainability-oriented reinsurance company, it focuses on encouraging the transition to a more sustainable society and reducing its impact on climate change, as reflected in its strategy for 2025-2030.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Reinsurance Reinsurance coverage for property insurance risks, providing primary insurance companies with risk transfer capacity, catastrophe protection, and capital relief for property underwriting portfolios.
• Motor Vehicle Reinsurance Reinsurance coverage for motor vehicle insurance risks, providing primary insurers with capacity for motor liability and motor own damage exposures.
• Liability Reinsurance Reinsurance coverage for general liability insurance risks, providing primary insurers with capacity for third-party liability exposures.
• Marine and Aviation Reinsurance Reinsurance coverage for marine and aviation insurance risks, providing primary insurers with capacity for transport, cargo, hull, and aviation exposures.
• Other Reinsurance Contracts Reinsurance coverage for other non-life insurance risks not classified under property, motor, liability, or marine and aviation lines, providing additional capacity diversification for primary insurers.

Quantifiable outcome

• Capital adequacy ratio of 12.6% in 2023, up from 5.3% in 2022
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Zavarovalnica Triglav, d.d. (Parent Company)coreOthersZavarovalnica Triglav d.d. is the parent company of Pozavarovalnica Triglav Re. It is the largest Slovenian insurance company with the highest market share in both life and non-life insurance. Triglav Re operates as a wholly owned subsidiary within the Triglav Group structure.

Scale indicators13 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Swiss Re: Global reinsurance leader providing treaty and facultative coverage across P&C and L&H. Directly comparable product portfolio, including motor, property, liability, and specialty lines, with substantially larger scale.
• Lloyd's of London: Specialty insurance and reinsurance market providing treaty and facultative coverage globally. Comparable in offering specialty and property reinsurance, though via a unique subscription market structure.
• Munich Re: Global #1 reinsurer offering treaty and facultative reinsurance across all major P&C and life lines. Comparable in product set, though operating at vastly greater scale and global diversification.
• Hannover Re: Major global reinsurer with strong treaty and facultative capabilities across P&C, life/health, and specialty. Comparable business model serving cedents across multiple geographies, including European markets.
• Wiener Städtische / VIG Re: Austrian-based insurance group with captive and external reinsurance operations across CEE. Operates as a regional reinsurance competitor with comparable Central European P&C line exposure.
• SCOR: French-listed global reinsurer offering treaty and facultative reinsurance across P&C and life. Comparable mix of property, motor, liability, and specialty lines with established European franchise.

Direct peers

• Odyssey Group (Enstar): Specialty P&C reinsurer providing treaty and facultative reinsurance globally. Comparable mid-scale reinsurance model with focus on property, marine, and specialty lines similar to Triglav Re's portfolio mix.
• PartnerRe: Mid-sized global reinsurer providing treaty and facultative P&C and specialty reinsurance. Closest scale analog to Triglav Re within the broader reinsurance market.
• Sava Re: Slovenia-based reinsurance company and the other principal domestic reinsurer. Directly comparable regional reinsurer operating across the Adria and broader CEE markets with similar treaty and facultative offerings.

Regional players

• Croatia osiguranje: Largest Croatian insurer and potential ceding company / regional peer operating in the same Adria markets as Triglav Re. Comparable in regional footprint and P&C line mix, with reinsurance as a buyer rather than provider.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/triglavre

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pozavarovalnica Triglav Re, d.d.