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4-Traders Homepage  >  Equities  >  LJUBLJANA STOCK EXCHANGE, INC.  >  Pozavarovalnica Sava dd    POSR   SI0021110513

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Sava Re dd : Sava Re remains on S&P's negative watch list

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03/18/2013 | 10:24am CET

Monday, 18/03/2013

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

The rating agency Standard and Poor's (S&P) put Sava Re on its negative watch list (BBB+) in December 2012. This was due to the acquisition of 50.99 percent in Zavarovalnica Maribor (ZM). According to S&P, Sava Re could benefit significantly from this transaction, which, however, carries an execution risk.

After its regular periodic review, S&P decided to keep Sava Reon its negative watch list (CreditWatch with negative implications). In the next three months, it intends to resolve the CreditWatch placement of the reinsurance company. By then, it anticipates that Sava Re will have executed the capital increase, which will give S&P a clearer understanding of Sava Re's ability to acquire the remaining shares in ZM from Slovenska odškodninska družba (SOD). S&P could lower Sava Re's rating by one notch if the capital increase is only partially successful or unsuccessful or if ZM's integration weakens the company's consolidated capital adequacy.

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

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Financials (€)
Sales 2016 468 M
EBIT 2016 -
Net income 2016 32,0 M
Debt 2016 -
Yield 2016 4,39%
P/E ratio 2016 -
P/E ratio 2017
Capi. / Sales 2016 0,55x
Capi. / Sales 2017 0,53x
Capitalization 255 M
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Income Statement Evolution
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Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 16,3 €
Spread / Average Target 9,9%
Consensus details
Managers
NameTitle
Jošt Dolnicar Chairman-Management Board
Branko Tomažic Chairman-Supervisory Board
Hermina Kastelec Executive Director-Finance
Robert Sraka Executive Director-Information Technology
Mateja Lovšin Heric Deputy Chairman-Supervisory Board
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SWISS RE AG-3.73%33 090
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EVEREST RE GROUP LTD1.03%8 936
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