SAVA RE, d. d., Ljubljana
Audited annual report of the Sava Insurance Group and Sava Re d.d. 2019
Pursuant to the rules of the Ljubljana Stock Exchange d.d., Ljubljana and the Market in Financial Instruments Act, Sava Re d.d., Dunajska 56, Ljubljana makes the following announcement:
In its meeting yesterday, the supervisory board of Sava Re d.d. approved the “Audited annual report of the Sava Insurance Group and Sava Re d.d. 2019” attached hereto. The year 2019 was a good year for the Sava Insurance Group and the result of more than EUR 50 million was a record one in the history of the Group. The Group continued with the successful implementation of its strategy, increased operating revenues by nearly 10% and the profit by 16.7%, achieving a return on equity of 13.8%. The development of the Group’s business activities combined with its strong solvency position, supported by our raising of EUR 75 million subordinated debt in 2019, place the Sava Insurance Group in a strong position to deal with the many challenges facing it from the coronavirus in 2020.
In addition to regular content, the audited annual report 2019, in section 2.3 “Significant events after the reporting date”, includes current management views on the operations and circumstances associated with COVID-19.
We also attach a presentation of the audited business results, including the highlights of the previous year.
This announcement, including the attachments, will also be available on the Company’s website, at www.sava-re.si, at least ten years from the date of this announcement.
The Management Board