Sava Re entered a partnership agreement with insurer Montenegro.

Sava Re and the owners of Montenegrin insurer Montenegro Osiguranje signed a partnership agreement on long-term co-operation relating to reinsurance and consultancy services. At the same time both parties expressed their interest to establish a capital link.

Montenegro Osiguranje based in Podgorica is the second largest Montenegrin insurer with a market share of 21%, an annual written premium of about EUR 9 million and a staff of 65 employees. A potential take over of the insurer would mean an enlargement of the Sava Re Group, which already has subsidiaries in Serbia, Macedonia and Kosovo.

Details on the agreement relating to capital links remain confident.

Sava Re

For additional information, please contact Maja Krumberger, Company Secretary.
Tel: +386 1 47 50 200