Pozavarovalnica Sava dd : Solvency and Financial Condition Report of Sava Re, d.d. 2017
May 07, 2018 at 03:07 am EDT
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Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and the Market in Financial Instruments Act, Sava Re, d.d., Dunajska 56, 1000 Ljubljana makes the following announcement:
In accordance with the requirements of the Slovenian and EU insurance legislation, Sava Re, d.d. hereby releases the Solvency and Financial Condition Report of Sava Re, d.d. 2017 (hereinafter: SFCR), as approved by the management board of Sava Re d.d. with the consent of the Company's supervisory board. The independent auditor Ernst & Young issued an assurance report in respect to the SFCR in accordance with the Decision on the additional audit review of insurance companies and additional auditor's report (Official Gazette of RS, no. 9/2016) issued by the Insurance Supervision Agency in accordance with the Slovenian Insurance Act (ZZavar-1).
The Solvency and Financial Condition Report of Sava Re, d.d. contains detailed information on the system of governance, key functions, the established risk management system and own risk and solvency assessment (ORSA). It also describes in detail the Company's risk profile. The report contains information on the valuation of assets and liabilities for the purposes of demonstrating the solvency of the Company. These assets and liabilities are all valued at fair value. The report describes capital management as well as the amount of eligible own funds, solvency capital requirement and the solvency ratio of the Company. For the solvency calculation, the Company uses the Solvency II standard formula. Sava Re is capital adequate and had a high solvency ratio as at 31. 12. 2017. The report has been reviewed by a certified auditor.
As the information in the report relates only to Sava Re d.d., the report does not discuss the solvency and financial condition of the Sava Re Group. Information about the Group will be presented in the Group's solvency and financial condition report, which will be published by 18 June 2018, in accordance with the statutory due date.
The Solvency and Financial Condition Report of Sava Re, d.d. 2017 (SFCR) is attached hereto.
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Pozavarovalnica Sava dd published this content on 07 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 May 2018 07:06:02 UTC
Pozavarovalnica Sava dd (or Sava Reinsurance Plc), also known as Sava Re dd, is a Slovenia-based reinsurance undertaking. It operates as a parent company of Sava Re Group, which comprises direct insurance and pension undertakings. The Companyâs activities are divided into four segments: Reinsurance operations, Non-life insurance operations, Life insurance operations and Other business segment. The Reinsurance operations segment comprises treaty and facultative arrangements for intra-group clients and insurance and reinsurance partners worldwide. The Non-life insurance operations segment supports local markets with non-life insurance products and customer oriented services. The Life insurance operations segment is focused on life protection and saving products, including pension schemes. The Other business segment comprises operations of the Companyâs non-insurance subsidiaries. Sava Re Group operates through subsidiaries in Slovenia, Croatia, Serbia, Macedonia, Montenegro and Kosovo.
POZAVAROVALNICA SAVA, D.D. 
