Sava Re Group: 2019 first quarter results
Sava Insurance Group and Sava Re Company d.d. have published their financial results ending March 31st, 2019.
The gross written premiums of Sava Insurance Group have reached 171.6 million EUR (192 million USD) increasing by 2.8% compared to the same period of last year. The net result amounted to 10.9 million EUR (12.2 million USD), thus increasing by 135.7%. The net combined ratio improved by 3.2 points at 94.3%. The loss ratio attained 60.1%.
As for the reinsurance activity, managed by Sava Re Company d.d., the turnover reached 59.2 million EUR (66.4 million USD) rising by 4.3%. The company reported a net result of 37.7 million EUR (42.2 million USD) up by 161.6%. In contrast, the combined ratio decreased by 4.3 points at 96.8%. The loss ratio reached 63.6% for the first quarter of 2019.
Read alsp | Sava Re Group : 2018 results
