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IFC Invests in Triglav INT to Expand Insurance Services in the Western Balkans

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.
About IFC
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 .
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About Triglav
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