The re/insurer pointed out that all of the Group's operating segments closed the year 2021 with a profit: "The growth in the Group's profits were driven by the non-life business, thanks to a relatively benign claims environment in Slovenia, by improved performance in the reinsurance business due to less claims, and by the Group's pensions and asset management segments, due to strong sales, as well as favorable financial market conditions. The growth in profit is also driven by the full-year inclusion of Vita, which consolidated the position of the Sava Insurance Group as the second-largest provider of life insurance products in the Slovenian market".
In terms of GWP, in 2021, the Group wrote EUR 729.9 million in gross premiums, a notable increase of 7.4% over the previous year.
The growth in gross premiums was mainly supported by the Slovenian life insurance business (40.0% growth) due to the acquisition of Vita in 2020, but growth in the Group's premium volume was also achieved by the reinsurance business (5.0% growth), and international non-life and life insurance businesses (4.9% and 2.8% growth, respectively).
Within the Slovenian non-life segment, there was a 5.1% increase in premium in the domicile Slovenian market, although total premium of the segment declined due the phasing out FoS business operations.
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