Slovenian insurers reported GWP up by 4.62% y-o-y in 1H2022, to EUR 1.48 billion. The absolute trend setter was the non-life segment which saw a 6.3% GWP growth rate, to EUR 1.08 billion, while the life insurance segment remained, overall, at the 1H2021 GWP level, of EUR 393.6 million. Yet, one should notice that the Unit-Linked products line was the one which, by recording a 7.6% premiums growth, has offset the negative trend seen on the traditional life insurance lines. Paid claims went up by about 11,67%, to EUR 906 million, mostly driven by the health insurance line.
Following its regular annual rating review, the rating agency AM Best (Agency) affirmed the financial strength rating of Sava Re of "A" (Excellent) and its long-term issuer credit rating of "a" (Excellent), both with a stable outlook, the Slovenian reinsurer said.
Slovenian Sava Insurance Group generated a net profit of EUR 28.9 million in 1H2022, which is 48.2% of the annual target. The Group achieved operating revenue of EUR 364.2 million, representing 52.0% of the full-year target, the Group announced.
Slovenian insurers reported GWP up by 5.08% y-o-y in 1Q2022, to EUR 762.2 million. The trend setter was the non-life segment which provided for about 93% of the y-o-y additional premiums volume. Paid claims went up by about 12,6%, to EUR 453.7 million, mostly driven by the health insurance line.
The Slovenian insurance market totaled EUR 2.60 billion at the end of 2021, a 1.5% increase y-o-y, according to the Slovenian Insurance Association's year-end figures. Life insurance GWP posted a negative rate of -1.2% y-o-y to EUR 740 million, while the general insurance segment increased by 2.7% y-o-y to EUR 1.87 billion - or 71.63% of total GWP.
David KASTELIC, the long-time President of the Management Board of Zavarovalnica Sava and former Zavarovalnica Maribor, will continue his career at Grawe zavarovalnica, local media wrote.
Slovene re/insurance group Triglav announced its operations are to some extent exposed to the situation resulting from the war in Ukraine and related sanctions against Russia and Belarus.
Sava Insurance Group expects no material impact on its business results from the war in Ukraine, as its business volume and investment exposure to Russia and Ukraine are very low. An indirect impact on the Group's investment portfolio can be expected due to the trends in financial markets, the Group said.
Europ Assistance (EA), a subsidiary of the Generali Group, announced the acquisition of Slovenia-based company Call 365. Call 365 has been operating as Europ Assistance exclusive partner in Slovenia for 3 years, providing roadside and travel assistance services to Slovenian customers and travelers to Slovenia.
The Slovenian insurance market totaled EUR 2.03 billion in the first nine months of 2021, a 3.29% increase y-o-y, according to the Slovenian Insurance Association's Q3 report. In terms of paid claims, the aggregate value was ~EUR 1.18 billion, of which about EUR 387 million - life indemnities and EUR 803 million - payments related to non-life insurance sub-classes.
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.