Back

8 April 2022

Solvency and Financial Condition Report of Sava Re d.d. 2021 – without auditor assurance

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. for 2021 – without auditor assurance (hereinafter: “Sava Re SFCR”), as approved by the management board of Sava Re with the consent of the Company’s supervisory board.

The Sava Re SFCR is currently undergoing an audit review, which is to result in the issuance of an independent auditor’s assurance report with limited assurance. The Solvency and Financial Condition Report of Sava Re d.d. for 2021 with auditor assurance is scheduled to be released on 26 April 2022, in accordance with the Sava Re financial calendar.

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 capital adequacy calculation. This demonstrates its capital adequacy as at 31 December 2021, with a high solvency ratio of 282%.

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 to be released on 19 May 2022, in accordance with the statutory due date and the Sava Re financial calendar.

The Solvency and Financial Condition Report of Sava Re d.d. for 2021 without auditor assurance is attached hereto.

Attachment:

Solvency and financial condition report of Sava Re 2021 – without auditor assurance