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Reinsurer Sava Posts EUR 4.6m Net Profit in H1

Ljubljana, 31 August (STA) - Reinsurer Pozavarovalnica Sava ended the first half of 2012 with a net profit of EUR 4.6m, up 8.6% over the same period last year. Gross insurance premiums increased by 10.3% to EUR 94.8m, according to unaudited results published on the website of the Ljubljana Stock Exchange.

Net revenues from insurance premiums increased by 5% to EUR 63.4m. Net payouts in the first half stood at EUR 37.6m, up from 34.7m in the same period last year.

Reinsurance group Sava Re, the group around Pozavarovalnica Sava, registered EUR 10.3m in net profit in the first half of 2012, up 2.6-fold from just under EUR 4m in the first half of 2011.

Gross insurance premiums grew 6.7% on the group level, to EUR 158.5m, while net revenues from insurance premiums increased 1.4% to EUR 118.7m. Net payouts on the group level increased by 3.1% to EUR 68.5m.

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