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7 April 2020

Solvency and financial condition report of Sava Re d.d. 2019

Pursuant to the rules of the Ljubljana Stock Exchange d.d., the Slovenian Market in Financial Instruments Act, and insurance regulation of Slovenia and the European Union, Sava Re d.d., Dunajska 56, 1000 Ljubljana, makes the following announcement:

 Sava Re publishes the “Solvency and financial condition report of Sava Re d.d. 2019” (hereinafter: “Sava Re SFCR”), as approved by the management board of Sava Re with the consent of the Company’s supervisory board. An independent auditor’s assurance report with limited assurance has been issued by the audit firm KPMG in accordance with the “Decision on the additional audit review of insurance companies and additional auditor’s report” (Official Gazette of RS, no. 9/2016) issued by the Insurance Supervision Agency in accordance with the Slovenian Insurance Act (ZZavar-1).

 The Sava Re SFCR contains detailed information on the Company’s system of governance, its key functions, risk management system and own risk and solvency assessment. It also provides a detailed overview of the Company’s risk profile. The report contains information on the valuation of assets and liabilities, which are valued at fair value under Solvency II, for the purpose of demonstrating the Company’s solvency. Furthermore, the report provides information on capital management and the levels of eligible own funds, the solvency capital requirement and the solvency ratio. The Company uses the Solvency II standard formula for the solvency calculation. This demonstrates its capital adequacy as at 31 December 2019, with a high solvency ratio.

 Since the information in the report only relates to Sava Re, the report does not demonstrate the solvency or financial condition of the Sava Insurance Group. Information about the Sava Insurance Group will be presented in the Group’s solvency and financial condition report, which will be released on 19 May 2020 in accordance with the statutory due date and the financial calendar.

The “Solvency and financial condition report of Sava Re d.d. 2019” is attached hereto.

Solvency and financial condition report 2019