Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Sava Reinsurance Company d.d., Ljubljana hereby publishes financial results for the three months to 31 March 2012. 

In its regular meeting today, the Supervisory Board was presented with the unaudited consolidated financial results of the Sava Re Group and of Sava Reinsurance Company for the first quarter 2012. The Supervisory Board was of the opinion that Group results were good. 

The net profit of the Sava Re Group for the three months to 31 March 2012 totals EUR 3.690.474, which is double the amount year-on-year and 35% of the annual target net profit. In the first quarter 2012, the Sava Re Group wrote EUR 92,4m in gross premiums, up 11,3% year-on-year. Premium growth was contributed by all Group companies. 

Most Group companies succeeded in optimising costs in the first quarter, which is evident from the net expense ratio. 

The investment return of the Sava Re Group excl. finance costs reached 4,8% in the first quarter 2012, up 1,1 percentage point year-on-year. Growth was driven by cash flow from operating activities and fair value revaluations of investments.

Attached hereto is the Unaudited Financial Report of the Sava Re Group and Sava Reinsurance Company for the Three Months to 31 March 2012.

This announcement will also be available on the Company’s website at www.sava-re.si, at least five years from the date of the announcement.