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2019/10/07 / Erste Group Research

Issuer Profile | Sava Insurance Group

Sava Re, the CEE-based reinsurer, is the ultimate holding company of Sava Insurance Group. It is headquartered in Ljubljana, Slovenia. Its shares are listed on the Ljubljana Stock Exchange. The company,founded in 1975, entered the direct insurance market in 1998. Today, the group encompasses nine direct insurers in Slovenia and in the “Adria” region. It employs ~2,600 people.

The group offers non-life, life, pension, reinsurance, assistance and asset management services. It operates in Slovenia, Serbia, Croatia, North Macedonia, Montenegro and Kosovo. In this region, Sava is one of the major insurance groups with a market share of ca. 9% (2017 data). In Slovenia, Sava holds the no. 2 market position (2018: 16% market share). 70% of Sava’s premiums stem from Slovenia. The international reinsurance business contributed 16% to the group’s premium volume in 2018.

The Republic of Slovenia (AA-/Baa1/A) directly and indirectly owns 31.6% of the holding company’s shares.

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General information

AuthorErste Group Research
Date2019/10/07
Languageen
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria, Slovenia
Currency in focusEuro
Sector in focus-
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