Ljubljana, Slovenia, April 2, 2012—IFC,
a member of the World Bank Group, will invest €25 million in Slovenian
holding company Triglav INT, a leading insurance holding in southeastern
Europe, to increase access to insurance services and support improving
insurance standards in the Western Balkans.
IFC is making this investment to support
Triglav in expanding the capacity of its subsidiaries in Bosnia and Herzegovina,
Croatia, Czech Republic, FYR Macedonia, Montenegro, and Serbia.
“This investment marks the beginning
of our strategic partnership with IFC,” said Matjaz Rakovec, CEO of Zavarovalnica
Triglav, the controlling company of the Triglav Group. “IFC’s investment
in Triglav INT will support our efforts to introduce new standards and
expand our services in the Western Balkan countries where we already operate.”
Tomasz Telma, IFC Director for Europe
and Central Asia, said, “IFC is working with Triglav to expand its operations
across the Western Balkans and provide insurance services for the businesses
and people that need it. We see Triglav as a regional champion in introducing
new insurance standards and services.”
IFC supports the development of the
insurance sector in emerging markets and contributes to the strengthening
of local financial markets by increasing the capitalization of leading
insurers. We work with insurance companies that participate in consolidation
in their home markets or expand beyond their country's borders.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, providing advisory services to businesses and
governments, and mobilizing capital in the international financial markets.
In fiscal 2011, amid economic uncertainty across the globe, we helped our
clients create jobs, strengthen environmental performance, and contribute
to their local communities—all while driving our investments to an all-time
high of nearly $19 billion. For more information, visit www.ifc.org.
The Triglav Group is the leading insurance-financial
group in Slovenia and one of the leading groups in southeastern Europe.
It is present in eight countries and employs over 5,200 people. For more
information, visit www.triglav.eu