Pozavarovalnica Sava

Earnings Release • Dec 12, 2025

Category: Inside information

Published on: SEOnet

Published at:  11.12.2025 09:00

Published document ID: INI-537/25

INI-497/25

Sava Re, d.d.

Business plan for 2026: Sava Insurance Group targets €120m pre-tax profit

In accordance with the Ljubljana Stock Exchange rules and the Market in Financial Instruments Act, Sava Re d.d., Dunajska 56, Ljubljana, announces the following results:

The Sava Insurance Group has completed its planning for the year ahead, reviewing its performance to date and setting ambitious financial targets and development priorities across all its strategic business pillars for the coming year. These plans continue to support the delivery of the Group’s 2023–2027 strategy and reinforce its commitment to growth, innovation and excellence.

Outlook for 2025

The year 2025 has so far been very successful for the Sava Insurance Group, marked in particular by favourable claims experience. Owing to benign weather conditions, natural catastrophe claims have been significantly lower than those assumed in the business plan, based on claims trends from previous years. The impact of natural catastrophes in 2025 is estimated at approximately 60% of the claims incurred in each of the two preceding years. The management board expects that, in the absence of major loss events for the remainder of the year, the Group will deliver a pre-tax profit in excess of EUR 133 million and a net profit of more than EUR 105 million, representing a 25% improvement on the original target for 2025.

Key financial targets for 2026

• Business volume growth > 5%
• Profit after tax > EUR 95 million
• Return on equity > 12%
• Combined ratio < 93%

Business volume

The Group will increase its business volume by 5%.

• Non-life insurance premiums in the EU markets are expected to grow by 3%, driven by cross-selling and new customer acquisition. In the non-EU markets, the Group plans premium growth of over 10%, as it believes these markets still offer significant potential for expanding coverage with insurance products beyond compulsory motor insurance, increasing productivity within sales networks and developing additional distribution channels.
• For similar reasons, high premium growth of at least 15% is also planned for life insurance in the non-EU markets, while 2% growth is planned for the EU markets.
• In reinsurance, the Group is targeting a robust 10% growth rate, supported by new business and increased presence in markets where it currently has relatively modest exposure.
• An equally significant 10% increase in business volume is envisaged in pensions and asset management, underpinned by continued strong net inflows and competitive investment returns.

Profit and return

• The Group plans to exceed EUR 95 million in profit after tax in 2026.
• The combined ratio is planned at 93%, more favourable than the strategic target of 95%. This reflects the Group’s ongoing commitment to maintaining a solid insurance result through prudent underwriting. As in previous years, the 2026 plan incorporates natural catastrophe claims aligned with historical experience and set at a level above the claims burden incurred in 2025.
• Return on equity is planned at 12%, exceeding the strategic guidance for 2023–2027.

Three key strategic priorities

In 2026, the Group will continue to advance its business strategy across its three key strategic priorities.

• It will expand digital and self-service solutions for customers, enhance customer interaction management and encourage wider use of digital communication channels.
• It will continue to drive intensive optimisation of customer-facing and internal processes. In both areas, it will also gradually and in a controlled manner introduce solutions enabled by artificial intelligence.
• In sustainability, it will further implement its policy, grounded in a commitment to environmental protection, social responsibility, and the development of innovative, sustainability-driven products and services.

Business plan to propel the Group forward

The management board is confident that the goals set for 2026 are sufficiently ambitious to propel the Sava Insurance Group forward – in terms of both development and financial performance. In this way, the Group remains true to its mission of ensuring security and quality of life through commitment and constant progress.

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

Sava Re d.d.

Date: 12.12.2025