Pozavarovalnica Sava dd : Explanations to the Questions of the Shareholder Slovenski državni holding d.d. Regarding the Selection of the External Auditor for the Financial Years 2016–2018
May 18, 2016 at 05:48 am EDT
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Pursuant to the Rules of the Ljubljana Stock Exchange, Ljubljana, and relevant legislation, Pozavarovalnica Sava, d.d., Ljubljana (Sava Reinsurance Company) hereby announces the following announcement:
On 16 May 2016 Sava Reinsurance Company received a letter from its shareholder Slovenski državni holding d.d. (SDH), requesting explanations regarding the tender to award the contract for the provision of external auditing services, regarding the progress made on the Solvency II project, regarding the SII audit and regarding the determination (by the Company and by tenderers) of auditor hours needed within the Solvency II project.
The item 'Proposal for appointment of auditor for the financial years 2016-2018' to which the questions relate is on the agenda of the 31st general meeting of shareholders to be held on Tuesday, 24 May 2016. The proposer of the resolution to this agenda item is the supervisory board.
In order to provide SDH with answers to their questions prior to the forthcoming 31st general meeting and to comply with the principle of equal information for all shareholders, Sava Reinsurance Company hereby provides the explanations of the supervisory board regarding the selection procedure of the external auditor on the website of the Ljubljana Stock Exchange, via the SEOnet information system (http://seonet.ljse.si) and on the Company's official (http://www.sava-re.si).
The explanations of the supervisory board to the questions of SDH are provided in the attached document.
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.
Pozavarovalnica Sava d.d. published this content on 18 May 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 May 2016 09:47:02 UTC.
Original documenthttp://www.sava-re.si/en/media-centre/news/1404/explanations-to-the-questions-of-the-shareholder-slovenski-drzavni-holding-d-d-regarding-the-selection-of-the-external-auditor-for-the-financial-years-2016-2018/
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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 Company's 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 Company's non-insurance subsidiaries. Sava Re Group operates through subsidiaries in Slovenia, Croatia, Serbia, Macedonia, Montenegro and Kosovo.
Pozavarovalnica Sava dd : Explanations to the Questions of the Shareholder Slovenski državni holding d.d. Regarding the Selection of the External Auditor for the Financial Years 2016–2018