Under Standard & Poor's (hereinafter: S&P) capital adequacy model, measuring capital adequacy remains the essential component of the credit rating process.

► As at 31 December 2011, Zavarovalnica Triglav was rated "A – stable outlook" (FSR, ICR), which reaffirms its high level of capital adequacy. Despite lowering the sovereign rating on the Republic of Slovenia, S&P not only maintained its »A« credit rating on Zavarovalnica Triglav, but also took the Company off credit watch, which was initially issued due to a potential short-term downgrading of its credit rating. The rating agency maintained the negative medium-term outlook assigned to Zavarovalnica Triglav's credit rating.