SAVA Re at its 40th anniversary

20 December 2017 — Daniela GHETU
Sava Re celebrates 40 years of operation. The company celebrated its 40th anniversary together with its employees and business partners on 21 November, with a focus on the future and the changes it brings.

Under the banner "ReActing to the Future'', a panel of Slovenian experts from different fields gave their insight on trendy and upcoming challenges. Against the background of its past achievements which made Sava Re the biggest CEE domiciled reinsurer, the Group set itself ambitious goals, progressing on its course towards digitisation, technological modernisation and sustainable development.

For the 2017-2019 strategy period, the main goals of Sava Re are:
  • digitalisation of operations and streamlining of processes in the Group's insurance companies to make solutions simpler and more accessible to clients;
  • continuous growth of the Group, both organic and acquisitions-based;
  • seeking opportunities in property and infrastructural projects to diversify the investment portfolio;
  • closing the gap between book value and market value of shares;
  • target return on equity of 10.4 per cent (+/- 0.4 percentage point).
Sava Re is aiming at higher organic growth outside Slovenia and, by the end of 2019, expects to see the share of premium income written by its non-Slovenian subsidiaries increase compared to the business generated in Slovenia. Sava Re reinsurance operations will continue to look for growth opportunities in emerging markets; however, overall growth will also depend on price trends in international reinsurance markets. Also, organic growth will continue to be secondary to the primary goal of maintaining appropriate technical performance as measured by combined ratios.

In addition to organic growth, the Group is planning growth through acquisitions. The Group will seek opportunities for growing its regional presence, and for expanding to business segments, such as pension and health business and ancillary insurance services.

"The best innovations are the sparks that ignite the changes of the future. Let's start changing the world," is the statement that captures best the conclusions drawn from the anniversary event's debates.

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