Sava Insurance Group, H1 2019 results

Sava Insurance Group reported a 9.1% increase of its turnover at 336.8 million EUR (382.8 million USD) during the first half of 2019. This growth is driven by higher non-life direct premiums and by reinsurance.

The group took advantage of a favourable environment and a relatively low loss experience. In six months, Sava Insurance underwrote 60.7% of the expected 2019 turnover. The net profit reached 22.6 million EUR (25.7 million USD), up by 59.3% compared to the same period of 2018.

The net loss ratio remained stable at 61.2%. The combined net ratio improved by 2.2 points at 95% against 97.2% one year earlier.

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