Sava Re Group Announces Unaudited Earnings Results for the First Half of 2018; Provides Earnings Guidance for the Year 2018
August 30, 2018
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Sava Re Group announced unaudited earnings results for the first half of 2018. For the period, the company generated high premium growth both in Slovenia and in its international markets. Gross premiums written increased by 3.7% year on year to EUR 308.6 million. Premium growth was driven by non-life insurance in Slovenia (7.3% growth), non-life insurance abroad (16.0% growth) and life insurance abroad (11.7% growth). The group generated a net profit of EUR 14.2 million, down 17.2% year on year. This decline was mainly due to loss events that occurred in the second quarter of the year.
Assuming there are no further major loss events in the second half of the year, the company estimates that the planned profit for 2018 can still be achieved, despite the weaker first half result.
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. 
