The Slovenian group Sava Re recorded a net result after tax of 32.9 million EUR (34.6 million USD) in 2016, down by 1.3% compared to the previous year. The group's premium volume rose by 0.8% from 486.3 million EUR (531.4 million USD) in 2015 to 490.2 million EUR(516.5 million USD) a year ago.
its non-life insurance which drove the group's premiums with a 2.3% growth on the local market and 5.9% on the international one. The premiums recorded for the reinsurance activity are slightly down (-3%), yet with an increase in results.
Life insurance turnover declined by 0.2% on the Slovenian market, but rose by 10.9% on the international one.
With a rate of 94.6%, the combined ratio of the group is 0.3% higher than that recorded in 2015. Finally, return on equity (ROE) is 11.3% which is above the group's long-term forecasts. It should be noted that in November 2016, the group merged four of its European subsidiaries into a single entity named Zavarovalnica Sava.
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