“The process has started and we are looking for advisers for the share offering with completion expected by July,” Matjaz Rakovec, the chief executive officer of Triglav, said Monday in an interview at a business forum in Dubrovnik, Croatia. “We plan to sell about 3.3 million shares and we believe it will be successful even with the higher price than the current one.”

Triglav, which plans to double its profit for this year to 54 million euros ($76 million), has been expanding in the Balkans to offer insurance products and other financial services as economies catch up with Western European standards. The company is now eyeing targets in Bulgaria, Romania and Turkey, where the life insurance business increased by 35 percent last year, according to the chief executive.

“Due to favorable demographic trends … Turkey is really an interesting market for insurers, especially life insurance,” Rakovec said. He said Triglav has no plans to establish a property-casualty unit.

The planned capital boost will also help the Slovenian insurer comply with higher solvency requirements and improve its rating on a “stand-alone basis” with Standard & Poor’s rating service. Triglav’s A rating is supported by the sovereign rating of Slovenia, according to Rakovec.