Pozavarovalnica Sava dd : Notice of Intended Ordering of Supervisory Measures
August 11, 2016 at 10:04 am EDT
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Pursuant to the Rules of the Ljubljana Stock Exchange, Ljubljana, Sava Reinsurance Company, d.d., Ljubljana hereby announces the following:
Sava Reinsurance Company, d.d., (hereinafter: Company) received a letter from the Insurance Supervision Agency (hereinafter: ISA) notifying the Company of its intention to order supervisory measures and noting that Branko Tomažič, chairman of the Company's supervisory board failed to meet all the conditions for appointment as member of the Company's supervisory board.
In the letter the ISA states its intention to order the Company to eliminate the identified breach of regulations. During the granted time limit, the Company will prepare a statement of the facts and circumstances based on a response provided by Branko Tomažič, before a final order to eliminate breaches is to be issued.
Since this is a notice of intent and the ISA proceedings are still underway, the Company will refrain from giving any comments pending the completion of the proceedings.
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 11 August 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 August 2016 14:02:09 UTC.
Original documenthttp://www.sava-re.si/en/media-centre/news/1435/notice-of-intended-ordering-of-supervisory-measures/
Public permalinkhttp://www.publicnow.com/view/31658704160011739FA954A5477D015709618A1F
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. 
