Change in the shareholding structure

11. 5. 2012

We inform you of a change in the shareholding structure and in the management team of Triglav Reinsurance Company (rated "A" by S&P / negative outlook).

The major shareholder of Triglav Re, i.e. Triglav Insurance Company, with 91% of the shares, had decided to use the right to buy-out the remaining shares. Following the decision with the meeting of the Triglav Re General Assembly on 18. 4. 2012, formalities are now being carried out for an entry into the Companies Register that are expected to be finalized within the month of May.

The mandate of Mr. Kavcic as the Chairman of the Management Board has been terminated on 18. 4. 2012. He had been leading Triglav Re over the past 5 years and had greatly contrubuted to its development. He remains a part of the Triglav Re team as a Consultant to the Board of Management. The position of the Board Chairman has been passed to Mr. Gregor Strazar, who has signed a 5-year mandate.

Mr. Strazar, an MBA from the University of Michigan (United States) following a BBA from Heidelberg (Germany), has been active in the reinsurance industry for almost 15 years, the last 5 years thereof within the Triglav Re top managment team. According to Mr. Strazar, Triglav Re will continue fulfilling its strategy of organizing reinsurance protection for the Triglav Group companies on the one hand, and offering stable, reliable but flexible reinsurance capacity to reinsurance buyers globally on the other.