SAVA RE, d. d., Ljubljana
Estimated claims burden from Typhoon Hagibis
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 October 2019, Japan was hit by Typhoon Hagibis, one of the worst storms in the region in decades. According to latest estimates, the claims payable by Sava Re under its reinsurance treaties will exceed EUR 5 million.
One loss event of EUR 5 million has already been factored into the net profit target of the Sava Insurance Group for 2019. Assuming there are no further claim events of a similar magnitude, the Sava Insurance Group can still achieve its profit target for 2019.
This announcement will also be available on the Company’s website, at www.sava-re.si, for at least five years from the date of this announcement.
The Management Board