Thursday, 09/04/2015

Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and the Market in Financial Instruments Act, Pozavarovalnica Sava d.d. ("Sava Reinsurance Company"), Dunajska 56, 1000 Ljubljana, hereby announces the following:

In its session of 8 April 2015, the supervisory board of Sava Reinsurance Company approved the Audited Annual Report of the Sava Re Group and Pozavarovalnica Sava d.d. 2014 and the proposed agenda for the convocation of the 30th general meeting of shareholders to be published on 20 April.

The supervisory and the management boards have prepared a proposed resolution for the general meeting to the effect that shareholders be paid a dividend of € 0.55 gross per share, representing a 112 % increase over the previous year's dividend per share (€ 0.26 gross per share). Under the above proposed resolution, the dividend will be paid out of the distributable profit of Sava Reinsurance Company for the year 2014 in the amount of € 9,065,977.80.

The Company has determined the amount of the proposed dividend based on the approved strategic plan for the period 2015-2019, the capital model of rating agencies S&P and A.M. Best and the amount of available solvency margin under the Solvency I regime at 31 December 2014.

The proposed dividend is in line with the dividend policy that the Company published along with preliminary results on 9 March 2015, i.e. Sava Reinsurance Company will pay out dividends in the amount of approximately 30 % of the net profit of the Sava Re Group (consolidated profit) with the management board making adjustments to their proposal for dividend payout taking into account the Company's capitalization, new development projects to engage additional capital, capital requirements for the support of organic growth and other major factors that affect the financial position of the Company.

This announcement will be available on the Company's website at www.sava-re.si, at least five years from the date of the announcement.

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