Based on its 2020-2022 strategy, the Sava Insurance Group has prepared its business plan for 2022. The Group is planning to exceed EUR 700 million in operating revenue and generate a profit after tax of more than EUR 60 million, which translates into a return on equity of more than 11.5% in 2022.
The rating agency AM Best confirmed the financial strength rating "A" (excellent) of the Slovenian reinsurer Sava Re and its long-term credit rating at "a", both with a stable outlook, osigurajse.net
The rating agency AM Best affirmed the financial strength rating of the Slovenian insurer Zavarovalnica Triglav and its subsidiary, Pozavarovalnica Triglav Re, at 'A' (excellent) and their long-term issuer ratings at 'a', SeeNews informed
with reference to the insurer's statement.
Slovenian insurers ended 1H2021 with GWP worth EUR 1.4 billion, 2.84% up y-o-y. Paid claims increased by 3.97%, to EUR 810.4 million. As the growth rates recorded by the life and non-life segments were comparable, their contribution to the market growth, in absolute terms, was also similar.
Consolidated net profit of the Slovenian insurance holding company Prva Group rose 68.9% y-o-y to EUR 4.2 million in the first six months of 2021, SeeNews reported
Standard & Poor's affirmed the "A" (strong) insurer financial strength rating on Sava Re d.d. and Zavarovalnica Sava d.d. The outlook is stable, the company announced in a press release.
Sava Re published, according to the Rules of the Ljubljana Stock Exchange where the company is listed, the revised Corporate Governance Policy of Sava Re document, recently adopted by its management board.
In 1H2021, the Sava Insurance Group generated EUR 363.7 million in operating revenue and a net profit of EUR 43.5 million. Operating revenue and net profit represented 53.1% and 82.1%, respectively, of the full-year targets.
Slovenian insurance market totaled EUR 724 million at the end of Q1 2021, 1.3% more y-o-y, according to the Slovenian Insurance Association's Q1 report.
SAVA Re's the general meeting of shareholders has decided the company will pay a EUR 0.85 gross dividend per share. Shareholders entered in the shareholders' register as at 9 June 2021 will receive their dividends until 10 June 2021.
Triglav Group posted a total of EUR 371.7 million in consolidated GWP, up by 7% y-o-y, and achieved premium growth in most markets. Profit before tax in Q1 amounted to EUR 31.8 million, up by 21% y-o-y and 6% higher than in Q1 2019.
The Slovenian insurance market totaled EUR 2.57 billion at the end of 2020, a 2.07% increase y-o-y, according to the Slovenian Insurance Association's year-end figures.
Slovenian Insurance Supervisory Authority informed in a letter sent to all local insurance, reinsurance and pension companies, that it will adjust its previous recommendation from March this year.
Due to the uncertain situation regarding the spread of the COVID-19 pandemic and the consequent unclear impacts on the economy and the insurance industry, last week, Slovenian Insurance Supervision Agency asked the supervised entities to suspend dividend payments.
Slovene Triglav Group achieved in 2020 profit before tax of EUR 90.9 million, down 10% y-o-y and GWP worth EUR 1,233.8 million, up by 4% y-o-y. The technical result improved on all lines, but the persisting extremely low interest rate environment affected the bottom result.
The Slovenian insurance market totaled EUR 1.97 billion in the first nine months of 2020, a 3.65% increase y-o-y, according to the Slovenian Insurance Association's Q3 report. Life insurance GWP increased by EUR 7.75 million to EUR 557 million, while the Non-life segment reported a positive rate of 4.68%, reaching EUR 1.42 billion - or 71.76% of total GWP.
In 1H2020 the insurance market of Slovenia totaled EUR 1.4 billion, 4.2% more y-o-y. The life sector grew by 1.8%, to EUR 381 million (including pension funds), while non-life GWP went up by 5.2%, to EUR 993 million.
In view of the selected probable scenario of business conditions in 2021, Slovenian TRIGLAV Group plans to increase its consolidated gross written premium to EUR 1.2-1.3 billion and its profit before tax to EUR 85-95 million.
Slovene re/insurance group SAVA announced it intends to send a notification to the Insurance Supervision Agency declaring its intention to pay out dividends in respect of 2019.
Due to the uncertain situation regarding the spread of the COVID-19 epidemic and the consequent unclear impacts of the epidemic on the economy and the insurance industry, the Slovenian Insurance Supervision Agency recommends that insurance, reinsurance and pension companies even after 1 October 2020 suspend dividend payments.