Recapitalization of Triglav Insurance with EUR 4,7 mil - Matjaz Rakovec is no longer the Board Chairman in Zavarovalnice

On Tuesday, May 21, 2013, the Supervisory Board of Zavarovalnice Triglav held this year`s seventh regular session.

The Supervisory Board was introduced with the proposed recapitalization of Triglav Insurance Belgrade and agreed to recapitalize a subsidiary Zavarovalnice Triglav - Triglav INT with EUR 4.7 mil in order to ensure solvency of Triglav Insurance Belgrade.

Within the expanded agenda, the Supervisory Board discussed the revocation of the Zavarovalnice Triglav Board.

The Chairman of the Zavarovalnice Triglav Board, Matjaz Rakovec, was recalled from his position, for, as he stated, "business and economic reasons."

The Supervisory Board has appointed current board member, Andrej Slapar an interim Board Chairman of Zavarovalnice Triglav, whose mandate will last until the appointment of a new president, or until the expiration of his mandate as a board member, it was announced.