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Sava Re dd : ISA Approves Increase in Qualifying Holding in Zavarovalnica Maribor d.d.

02/11/2013 | 12:49pm US/Eastern

Monday, 11/02/2013

Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and applicable legislation, Sava Reinsurance Company d.d., Ljubljana announces the following:

Today Sava Reinsurance Company d.d. received a decision of the Insurance Supervision Agency based on which the Company can directly acquire voting rights and shares of Zavarovalnica Maribor d.d. of 50 percent or more, within six months of service of such decision whereafter such approval ceases to be effective.

In addition, the Insurance Supervision Agency issued an approval for Sava Reinsurance Company and the Slovenian Restitution Fund to jointly and directly acquire, based on their share purchase agreement titled "Contract on the rights relating to the shares of Zavarovalnica Maribor d.d.", voting rights and shares in the equity of Zavarovalnica Maribor d.d. of 50 percent or more, within six months of service of such decision whereafter such approval ceases to be effective.

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

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