The Sava Insurance Group has assessed the key performance indicators and set its performance targets for 2025, and also has set new annual targets for each of its strategic business pillars on the road to delivering the Group’s 2023–2027 strategy.

This year, the Sava Insurance Group is successfully completing the second year of implementation of its 2023–2027 strategy. Pre-tax profit for 2024 is estimated at EUR 100 million, or EUR 78 million after tax, which is approximately 10% above target. The Company’s management estimates that this year the Group will pass the EUR 1 billion mark in business volume, a significant milestone. Equally important, over the past two years the Group has increased its market share in most of its core markets by developing new products, improving customer touchpoints and expanding distribution channels.

The Sava Insurance Group has set the following targets for 2025:

• Business volume growth > 5%
• Profit after tax > EUR 84 million
• Return on equity > 11%
• Combined ratio < 94%
• Solvency ratio at upper end of 170%–210% range

Non-life business volume in the EU markets is planned to grow by 5%, driven by enhanced coverage for existing customers and the acquisition of new customers. The non-EU markets are expected to grow by more than 8% with continued strong organic growth, as the Group sees significant potential in these markets for non-motor products, improving the productivity of its distribution networks and developing additional distribution channels.

The Group is aiming to achieve an after-tax profit of at least EUR 84 million, which is more than 7% growth over the 2024 estimate. The combined ratio for the first nine months of 2024 indicates that it could remain at a very favorable level until the end of the year. The ratio for 2025 will likely be slightly less favorable and more in line with the longer-term historical average. However, the planned ratio of 94% in 2025 is more ambitious than the 95% target set in the strategy.

The management board believes that the Group’s goals for 2025 are ambitious enough, in terms of both the development activities and the financial targets set. The Company continues to build a story of growth, profitability and increasing value to all its stakeholders, the insurer said in its press release.