SAVA Re gets the regulatory approval to merge its four units in Slovenia and Croatia

29 September 2016 — Vlad BOLDIJAR
Slovenian SAVA Re announced that the Insurance Supervision Agency issued the authorisation for the merger of insurance companies relating to the acquisition of Zavarovalnica TILIA and the and the two Croatian units - VELEBIT osiguranje and VELEBIT zivotno osiguranje - by Zavarovalnica MARIBOR (acquired by SAVA Re in 2013) - to form Zavarovalnica SAVA, headquartered in Slovenia.

"The granting of the authorisation by the Insurance Supervision Agency represents a major step in the merger process of the four insurance companies and will allow the formal merger to conclude in line with the project timetable in early November 2016", the Slovenian reinsurer pointed out in a press release.

The merged company Zavarovalnica SAVA will be run by a newly appointed five-member management board, consisting of David KASTELIC (Chairman), Primoz MOCIVNIK (Deputy Chairman), Rok MOLJK (Member), Boris MEDICA, (Member) and Robert CIGLARIC (Member and Labour Director). 

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