Sava Re Announces Consolidated Earnings Results for the Year 2016; Provides Consolidated Earnings Guidance for the Full Year of 2017
February 13, 2017 at 08:57 pm IST
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Sava Re announced consolidated earnings results for the year 2016. For the year company reported, its consolidated net profit edged down 1.3% on the year to EUR 32.9 million because of tax effects. Group gross written premiums in 2016 grew to EUR 490.2 million, up by 0.8% year-on-year.
Sava Re provided consolidated earnings guidance for the full year of 2017. The company is planning to achieve a consolidated net profit of EUR 31 million - EUR 33 million in 2017, and a return on equity of over 10%. The company plans consolidated written gross premiums of EUR 494 million this year.
Pozavarovalnica Sava dd (or Sava Reinsurance Plc), also known as Sava Re dd, is a Slovenia-based reinsurance undertaking. It operates as a parent company of Sava Re Group, which comprises direct insurance and pension undertakings. The Companyâs activities are divided into four segments: Reinsurance operations, Non-life insurance operations, Life insurance operations and Other business segment. The Reinsurance operations segment comprises treaty and facultative arrangements for intra-group clients and insurance and reinsurance partners worldwide. The Non-life insurance operations segment supports local markets with non-life insurance products and customer oriented services. The Life insurance operations segment is focused on life protection and saving products, including pension schemes. The Other business segment comprises operations of the Companyâs non-insurance subsidiaries. Sava Re Group operates through subsidiaries in Slovenia, Croatia, Serbia, Macedonia, Montenegro and Kosovo.
POZAVAROVALNICA SAVA, D.D. 
