Sava Re Group Announces Unaudited Earnings Results for the First Quarter ended March 31, 2018; Provides Earnings Guidance for the Year 2018
May 24, 2018
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Sava Re announced unaudited earnings results for the first quarter ended March 31, 2018. For the first quarter, the company's gross premiums written rose by 4.4% year on year to EUR 167.0 million. The Sava Re Group generated a pre-tax profit of EUR 6.6 million in the first quarter of 2018. While this is 42% below the year-on-year figure, the Group believes that the impacts of adverse claims development in its international markets and interim movements in expenses will be offset by the end of the year.
The company expect to achieve the target profit for 2018, despite the weaker first quarter result.
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. 
