CROATIA: Sava Re indirectly recapitalizes Velebit Osiguranje

13 September 2011 —
EUR 1.9 million in fresh capital has been subscribed for in the recapitalization of Croatian insurance company Velebt Osigranje, indirectly owned by Sava Re, announced the Slovenian reinsurance company on the web portal of Ljubljana Stock Exchange.

Velebit Osiguranje was almost fully recapitalized by company Velebit Usluge, in which Pozavarovalnica Sava controls a 100 percent stake. Other investors managed to subscribe for little over EUR 1,000. Velebit Usluge thus increased its stake in Velebit Osiguranje by almost 8 percent, i.e. from 51.41 percent to 59.19 percent.

Read the full story on www.limun.hr

CROATIA: Sava Re indirectly recapitalizes Velebit Osiguranje
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