Joint Pension Company Established by NLB and Zavarovalnica Triglav

Ljubljana, 20 June - A Joint Pension Company of the largest Slovene commercial bank Nova Ljubljanska banka (NLB) and the largest Slovene insurance company Zavarovalnica Triglav was established on Tuesday in Ljubljana. Apart from the two major companies another eleven Slovene companies and one bank are also investing into the new pension company. The start-up capital of the company thus amounts to SIT 665 million (3.24 million euros). The company also has the option of supplying fresh capital if needed, since it reported its total capital at SIT 1 billion (4.87 million euros), while the NLB and Zavarovalnica Triglav are said to hold equal share in the new company, which together adds up to more than 51 percent of complete capital. The company is expected to receive fresh capital by September of this year.