Tuesday, 26/05/2015

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 regular session yesterday, the supervisory board of Sava Reinsurance Company was presented with the unaudited financial results of the Sava Re Group and Sava Reinsurance Company for the first quarter of 2015.

In the first quarter the Sava Re Group recorded a marked growth in premium income, primarily from international reinsurance business and from its Macedonian and Montenegrin operations. Consolidated gross premiums written in the period totalled € 152.5 million euros, a 4.5 percent increase year-on-year.

In the first three months of 2015, the Sava Re Group generated a net profit of € 10 million, which is 32.3 percent more than in the same period last year and more than budgeted for the first quarter.

Profit grew mainly due to larger contributions from reinsurance operations and Slovenian non-life insurance business. The former contributed € 2.1 million or 81 percent, the latter € 1.7 million or 53 percent to the growth in profit before tax.

The Group's results are well within budget as first quarter figures exceed one third of the annual plan.

The Company will publish the full Unaudited Financial Report of the Sava Re Group and Sava Reinsurance Company for the Three Months to 31 March 2015 on Friday, 29 May 2015.

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.

Documents
  • Unaudited financial statements of the Sava Re Group and Pozavarovalnica Sava d.d. for the three months to 31 March 2015 [.pdf, 399 kB]
distributed by