Slovene TRIGLAV and SAVA to suspend pay out dividends by 1 October 2020

25 May 2020 — Andrei Victor
Slovene re/insurane groups TRIGLAV and SAVA informed the public of the Insurance Supervision Agency's new call upon the insurance companies to suspend the payout of dividends from accumulated profit and not to undertake any irrevocable commitment to pay out dividends by 1 October 2020.

At the end of March 2020, the Insurance Supervision Agency sent a letter to all (re)insurance and pension companies expressing its expectations regarding temporary suspension of dividend payment until at least 1 October 2020. More details here. At that time, TRIGLAV and SAVA Re informed that following the recommendation they will temporarily suspend the dividend payments for 2019.

Thus, "on 20 May 2020, Zavarovalnica TRIGLAV d.d. received a letter from the Insurance Supervision Agency entitled "Insurance Supervision Agency's measure regarding the dividend payments", by which it expects that the shareholders of (re)insurers and pension companies suspend the dividend payments until at least 1 October 2020".

SAVA Re is informing the public that "on 20 May 2020, it received the Insurance Supervision Agency's measure regarding dividend payment, in which the Agency expressed its expectation that (re)insurance and pension companies will suspend dividend payment until at least 1 October 2020".

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