Pozavarovalnica Sava

Annual Report • Apr 9, 2021

Category: Inside information

Published on: SEOnet

Published at:  08.04.2021 16:00

Published document ID: INI-194/21

INI-188/21

SAVA RE, d. d., Ljubljana

Audited annual report of the Sava Insurance Group and Sava Re d.d. for 2020

Pursuant to the rules of the Ljubljana Stock Exchange d.d., Ljubljana and article 134 of 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. for 2020” attached hereto. The audited income statement and the statement of financial position have not changed from those published in the announcement of unaudited results. The year 2020 was a very successful one for the Sava Insurance Group as the Group made an exceptional net profit of EUR 56.4 million despite increased risk from additional pandemic-related negative impacts on business operations.

In 2020, the Sava Insurance Group generated EUR 674.9 million in operating revenue, up 15.5% year on year. The net profit was EUR 56.4 million, a 12.3% increase over the previous year and better than planned. Return on equity was 13.3%, 1.3 p.p. above the target return set in the 2020–2022 strategy.

The Group is also making good progress in its strategy and is evolving into a customer-centric, modern, digital, socially responsible and sustainability-oriented insurance group. In 2020, the Sava Insurance Group stepped up its projects for developing digital solutions to provide its customers with faster and easier access to its services. In the year, the Group placed special attention on investment opportunities in environmental and sustainability-oriented projects.

We also attach a presentation of the audited business results with highlights of the previous year.

The consolidated financial statements in the official ESEF format prepared in accordance with Commission Delegated Regulation (EU) 2019/815 and the first paragraph of article 134 of the Slovenian Financial Instruments Market Act (ZTFI-1) will be published as soon as possible.

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.

Sava Re Management Board

Date: 09.04.2021