Total consolidated gross operating costs of the Triglav Group reached EUR 286.4 million and were 2% lower than the year before. Gross operating costs for non-life insurance came to EUR 190.8 million (index 98), in the life-insurance segment they amounted to EUR 37.2 million (index 99), in health insurance they totalled EUR 6.9 million (index 85) and in non-insurance activities, they were EUR 51.6 million (index 97).

Acquisition costs (fees and charges) totalled EUR 30.9 million and increased by 7% over the preceding year. The costs of the acquisition of goods sold amounted to EUR 24.5 million and were 10% lower than the year before, while depreciation costs were EUR 11.6 million and went up 3% compared to 2010. Labour costs totalling EUR 136.2 million, or 4% less than in 2010, accounted for the majority of operating costs (46.1%). Costs of services provided by natural persons totalled EUR 3.0 million, representing a decrease of 20%, while other operating costs remained at the same level as the year before (EUR 89.2 million).

Total insurance business gross operating costs (EUR 234.6 million) decreased by 2% from 2010. The increase in insurance business operating costs was the same as the growth of gross written premium. The share of insurance business operating costs in gross written premium was thus 23.7%, which is the same as in 2010.

In total insurance business gross operating costs, broken down by functional groups, the costs of insurance contract acquisition accounted for 55.6%, or 0.4 percentage points more than in the preceding year, followed by 11.5% in assessment costs (11.4% in 2010), 1.9% in expenses arising from asset management (the same as in 2010), while other operating expenses represented 30.9%, down 0.6 percentage points compared to the year before.

Gross operating costs by nature