SAVA RE, d. d., Ljubljana
Solvency and Financial Condition Report of Sava Re d.d. 2021 with auditor assurance
Pursuant to the rules of the Ljubljana Stock Exchange d.d., the Slovenian Market in Financial Instruments Act, and insurance regulation of Slovenia and the European Union, Sava Re d.d., Dunajska 56, Ljubljana makes the following announcement:
On 8 April 2021, Sava Re published the Solvency and Financial Condition Report of Sava Re d.d. for 2021 without auditor assurance.
Today Sava Re additionally releases the Solvency and Financial Condition Report of Sava Re d.d. for 2021 with auditor assurance (hereinafter: the Sava Re SFCR), as approved by the management board of Sava Re and with the consent of the Company’s supervisory board. An independent auditor’s assurance report with limited assurance has been issued by the audit firm KPMG in accordance with the “Decision on the additional audit review of insurance companies and additional auditor’s report” (Official Gazette of the Republic of Slovenia, no. 9/2016, as amended by the Official Gazette of the Republic of Slovenia, no. 161/2021) issued by the Insurance Supervision Agency in accordance with the Slovenian Insurance Act (ZZavar-1). No changes in substance have been made to the Sava Re SFCR reviewed by an independent auditor and published today compared to the one published on 8 April 2022.
The Company uses the Solvency II standard formula for capital adequacy calculation. This demonstrates its capital adequacy as at 31 December 2021, with a high solvency ratio of 282%.
The Sava Re SFCR does not provide information on the solvency and financial condition of the Sava Insurance Group. This information will be published on 19 May 2022, in line with regulations and the Sava Re financial calendar.
The Solvency and Financial Condition Report of Sava Re d.d. for 2021 with auditor assurance is attached hereto.
This announcement, including the attachment, will also be available on the Company’s website, at www.sava-re.si, at least five years from the date of this announcement.
Sava Re d.d.