New dimension of safety

Annual Report


We have been creating new dimensions of safety for 25 years

The insurance company Adriatic Slovenia (AS) is the second largest insurance company in the Slovenian market. It is trusted by more than 600 thousand policyholders, and is the only insurance company with a portfolio which includes all categories of insurance: health, property, life, and pension insurance.

It is our mission to provide comprehensive insurance protection and to identify risks to the greater safety of individuals and companies.

We successfully seek the best insurance solutions at a reasonable price. We stand by our clients with a thousand-member team, 366 sales points throughout all Slovenian regions, and state-of-the art technologies that make it possible to take out insurance via the web and mobile phones.

Along with this, we provide full professional support in the choice of appropriate insurance coverage and in the event of damage occurring.

Innovative business processes, new business models, sales channels, and insurance solutions that are recognised and valued by our clients are our highest priorities.

In our work, we follow our five values: responsibility, trust, proactiveness, passion and joy, winning mentality. We emphasise them in interpersonal relationships, and also project them outwards in our approach to our clients, business partners, and all other stakeholders.

We aim to surpass the expectations of our policyholders. With modern and transparent services, we have been creating new safety dimensions for 25 years.


Management BoardExecutive DirectorsDirectors of Operational Units

Circle of Safety

In AS we love setting records! One was set in December 2015, when 5,712 visitors made an »Olympic circle of safety« around Lake Bled for the first time.
(author: Studio B)

Business operations

President of the management board Gabrijel Škof on the business year of 2015

Important financial and other data of the parent company in 2015
2015 2014
Gross written insurance premiums (in EUR million) 296.6 297.9
Gross claims paid (in EUR million) 213.4 208.8
Market share 15% 15,4%
Results before tax (in EUR million) 16.8 23.0
Net profit/loss (in EUR million) 14.3 19.3
Financial investments and resources (as of 31 December) 573.7 576.4
Gross liabilities from insurance contracts (as of 31 December) 528.7 527.8
Number of employees (as of 31 December) 1,092 1,027
Premium per employee (in EUR thousand) 271.7 290.0
Total investment yield 2.53% 9.72%
Return on equity (ROE) 13.7% 19.3%
Book value of capital (as of 31 December) (in EUR million) 100.9 106.9
Book value of shares in EUR (as of 31 December) 9.79 10.37
Capital adequacy index 172 173
Credit rating BBB- stable
(Fitch Ratings)
BBB- stable
(Fitch Ratings)

Movement of gross premiums earned and gross claims incurred and the net business results of the parent company in EUR million

Insurance types
Market share 14.6% 20.8% 10.6%
Gross written premiums 135.8 EUR million 100.6 EUR million 60.2 EUR million
Gross claims paid 85.1 EUR million 88.5 EUR million 39.8 EUR million
Visit website

Structure of premiums of the parent company by insurance fields

Financial results 2015

Adriatic Slovenica, d. d., performed well in difficult market conditions and ended the year 2015 with a positive result. With the recorded net financial result of 14.3 EUR million, capital profitability in 2015 was 13.7 per cent.

The cash flow statement by product segments shows:

  • life insurance (positive operation, 4.2 EUR million),
  • property insurance (positive operation, 11.0 EUR million),
  • health insurance (loss of 903.5 thousand euro).
Profit and loss statement

The balance sheet total of the company as of 31 December 2015 was 665.4 EUR million, a reduction of 3.1 per cent compared to the year before. This was mainly due to the acquisition of the KD životno osiguranje, d. d. life insurance company, a reduction in technical provisions transferred to reinsurance, and the lower value of loan claims.

The majority of assets (61.8%) at the end of 2015 are comprised of life insurance assets; 37.2% of assets were used to operate property insurance, while the remainder is intended for health insurance.

Balance sheet

Content policyholders

Reputation (Kline & Partner, 2015)

The business public ranks Adriatic Slovenia in 3rd place among financial institutions.

Insurance Monitor Survey (Zavarovalniški monitor, 2015)

  • Among all spontaneously cited insurance companies, Adriatic Slovenia ranked 2nd.
  • Adriatic Slovenia achieved a Net Promoter Score of +12.
  • The policyholders of Adriatic Slovenica are most satisfied with the response of the insurance company in the establishment of damage claims.

Damage claim submission – satisfaction with the company’s response

(Source: Insurance Monitor Survey 2015, Gfk Slovenia)

Environment support

We are focused on
high-quality art

Adriatic Slovenica traditionally – with donations and sponsorships – supports various projects, initiatives, and actions of national significance, as well as regional and local events that contribute to improving the quality of life and preservation of natural and cultural heritage. Altogether, we supported over 350 different projects in 2015. For 25 years now, we have supported projects in the fields of health care, sport, culture, and the preservation of natural and cultural heritage, education and prevention, particularly in traffic

The company has supported the RTV Slovenija Symphony Orchestra since 2005, and the Portorož Auditorium and Koper Theatre since their establishment. Through the AS Foundation, we support high school and university students showing above-average talent. In 2015, we supported two new protégés, Luka Benčič, jazz double-bassist, who was admitted to the Conservatorium van Amsterdam, and Max Čelar, who studies at one of the most prestigious faculties of architecture, the Architectural Association School of Architecture in London. In September, the AS Foundation in collaboration with the RTV Slovenija Symphony Orchestra prepared an interesting educational action for high school and university students of music. We stand behind them. It is intended particularly to overcome the shortage of players of certain instruments in the RTV Slovenija Symphony Orchestra. In 2012, the company acquired a rich collection of artworks, which we began to exhibit at the AS Gallery, set up in 2014 in the headquarters of the KDG at 63 Dunajska cesta in Ljubljana, in 2013. In 2014, we bought several works by Slovene and foreign artists (worth almost 13,500 EUR), and in 2015, we organised five prominent exhibitions of artworks owned by the group and work by other artists

We stand with
our athletes

In 2015, the company continued to support sports, and also developed the insurance offer and services for athletes of all categories. It took care of top athletes as the official insurer of the Olympic representative teams (Team Slovenia) and the national football representative team. The company has been supporting the top bodies of Slovenian sport, the Olympic Committee of Slovenia and the Association of Sports Federations, since 1993, while on 21 December 2012 it concluded a contract for the four-year Olympic cycle until the Rio 2016 Olympic Games.

It has been cooperating with the Football Association of Slovenia for 15 years, and has signed a contract for the period until 2016, i.e. until the European Championship in France. In 2015, the company joined the major supporters of sport projects with its support of the Soča Power Plant Kayak Club and the Slovenian Sailing Federation; regarding individuals, we are sponsoring the outstanding sailor Vasilij Žbogar for the fourth consecutive Olympic cycle, and since 2015, the free-style skier Filip Flisar.

Support for the health-care branch and environmental protection

In the field of health-care insurance, we cooperate with approximately 1,800 health-care service providers, and support education and initiatives contributing to the development and reputation of the healthcare branch. As the general sponsor, we have for the 14th consecutive time supported ‘My Doctor’, the selection of the best and most prominent Slovenian doctors. Ecological conduct of the company and its employees is everyday practice; employees are informed and active. Even if the insurance business is not ecologically detrimental as such, the company has been reducing its carbon footprint in a wide variety of ways, including the reduction of energy consumption in its facilities and the purchase of cars which are more environment-friendly.

Circle of safety

We all need our Circle of Safety.

In 2015, the key goal of our strategy was to increase the insurance protection of our clients, with the guiding principles of our work being the needs and wishes of our policyholders. An important competitive advantage of the company is comprehensive insurance protection: a complete circle of safety, and a complete offer of insurance products and services under one roof, because we provide our clients with property, health, life, and state-of-the-art retirement insurance. We develop new, innovative solutions that provide our clients with safety in all periods of life, deliver our services via modern sales channels, and complete the offer with a comprehensive sales and after-sales service and efficient settlement of damages.

The Circle of Safety and comprehensive solutions provide our policyholders with significant financial savings and a number of benefits. Policyholders only add to their existing insurance the insurance that they or their family really need, thereby closing their Circle of Safety. In this way, they simplify their insurance and make significant savings.