Business plan for 2024: Sava Insurance Group plans secure and profitable growth across all business segments

	BUSINESS PLAN	December 2023
	OF THE SAVA
	INSURANCE GROUP
	FOR 2024

Disclaimer

Forward-looking statements

This document may contain forward-looking statements relating to the expectations, plans or goals of the Sava Insurance Group (the Group), which are based on estimates and assumptions made by the management of Sava Re (the Company). By their nature, forward-looking statements involve known and unknown risk and uncertainty. As a result, actual developments, in particular performance, may differ materially from the expectations, plans and goals set out in this document; therefore, persons should not rely on forward-looking statements.

Duty to update

The Group and the Company assume no statements or other information contained applicable laws and regulations.

obligation to update or revise any forward-looking in this document, except to the extent required by

Alternative performance measures

This document may contain certain alternative performance measures used by the Company's management board to monitor the business, financial performance and financial position of the Group and the Company and to provide investors with additional information that management believes may be useful and relevant to understanding the Group's results. These alternative financial indicators or benchmarks generally do not have a standardised meaning and therefore may not be comparable to similarly defined benchmarks used by other companies. Therefore, no such indicators or measures should be considered in isolation from, or in place of, the consolidated financial statements of the Group and the related notes prepared in accordance with IFRS standards.

Business plan of the Sava Insurance Group for 2024

2

Heading into the second year of our 2023-2027 strategy

Key development areas in 2024

Focusing on the customer

Streamlining business processes

Building sustainability

Modernising information technology	Building teams of satisfied and motivated	Growing through acquisitions
	employees

Business plan of the Sava Insurance Group for 2024

3

Approaching one billion euros in business volume

Key performance targets planned for 2024

Growth in	Business	Return	Net profit
business volume*	volume*	on equity	for the year
> 5%	> €925m	> 10.5% ​	> €70m

Solvency	Combined	Return on
ratio	ratio	investment portfolio
optimal	non-life insurance +
capitalisation range	reinsurance
170-210%	< 95%	2.2%

* Gross premiums written for (re)insurance companies and operating revenue for non-insurance companies.

Business plan of the Sava Insurance Group for 2024

4

Planning for continued growth in all our operating segments

Business volume growth planned for 2024

Non-life, EU	Life, EU	Reinsurance
> 6%	> 2%	> 1%

Non-life,non-EU	Life, non-EU	Asset management
> 8%	> 10%	> 5%

Business plan of the Sava Insurance Group for 2024

5

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