During the 1st half of 2018, Sava Re [4] Group's gross written premiums reported a 33.7% growth, rising from 297.8 million Euros (339.8 million USD at June 30th, 2016) to 308.7 million Euros (359.6 million USD ) one year later. This growth is accounted for by the evolution of non life insurance in Slovenia (7.3% growth), of non life insurance abroad (growing by 16%) and of life insurance abroad (growth of 11.7%). The net combined ratio of the Group was set at 97.1%.
The net result of the first six months of 2018 was of 14.2 million Euro (16.5 million USD at June 30th, 2018), decreasing by 7.2 % compared to same period in 2017. This decline is due to the disasters that occurred during the second quarters of the year among which the hail storm which hit the South-East of the Slovenia and which cost 4.6 million Euros (5.4 million USD ) to Sava Re.
At June 30, the Group achieved 59.4% of its target premiums for 2018.
As a reminder, the American rating agency Standard & Poor's granted, in July 2018, to Sava Re the financial strength rating [5] "A" with stable outlook.