SAVA Re's audited Annual Report for 2016 released today

6 April 2017 — Daniela GHETU
The Slovenia Sava Re Group has published today its Audited Annual Report for 2016, confirming a profit before tax of EUR 40.7 million, up 1.4% y-o-y, as shown by the preliminary results.

The Net profit for the period was of EUR EUR 32.9 million, while the earnings per share value stoof at EUR 2.08, slightly higher than in 2015. Consolidated GWP amounted to EUR 490.2 million, 0.8% up y-o-y.

SAVA, d.d. is the controlling company of the SAVA Re Group. It was established under the Foundations of the Life and Non-Life Insurance System Act, and was entered in the company register kept by the Ljubljana Basic Court, Ljubljana Unit (now Ljubljana District Court), on 10 December 1990. Its legal predecessor, Pozavarovalna skupnost SAVA, was established in 1977.

The Group transacts reinsurance business (19% of gross premiums written), life insurance business (18 % of gross premiums written) and non-life insurance business (63 % of gross premiums written). At 31 December 2016, the Group employed 2,488 people (31/12/2015: 2,540 employees) on a full-time equivalent basis.

The largest shareholder of the controlling company is the Slovenian Sovereign Holding (previously the Slovenian Restitution Fund, SOD), which holds 25% plus one share. The second largest shareholder is Zagrebacka banka (fiduciary account) with a 14.34% stake.

The full 2016 Annual Report of SAVA Re Group is available here, in English.

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