Our share | Sava Re

POSR share

Share price

POSR share price performance

LJSE: POSR

€--,--

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Exchange information

Volume

17,219,662

Ticker symbol
POSR

ISIN code
SI0021110513

Stock exchange
Ljubljana Stock Exchange

Bloomberg symbol
POSR SV Equity

Share price performance

Date	Average price	Change in %	Turnover 000 €	Volume

Key indicators

	31 Dec 2017	31 Dec 2018	31 Dec 2019	31 Dec 2020
Share capital (€)	71,856,376	71,856,376	71,856,376	71,856,376
Number of shares	17,219,662	17,219,662	17,219,662	17,219,662
Number of own shares	1,721,966	1,721,966	1,721,966	1,721,966
Ticker symbol	POSR	POSR	POSR	POSR
Number of shareholders	4,061	4,073	4,110	4,248
Closing share price in period (€)	15.80	15.30	18.00	18.50
Market capitalisation (€)	272,070,660	263,460,829	309,953,916	318,563,747
Consolidated net earnings per share (€)	2.00	2.76	3.22	3.63
Consolidated book value per share (€)	20.40	21.95	24.83	29.70
Price-to-book ratio	0.86	0.77	0.81	0.69
Price-to-premium ratio	0.53	0.48	0.52	0.47
Dividend per share for the year ended (€)	0.80	0.95	-	0.85

Dividend

Sava Re follows its dividend policy. Generally, we distribute dividends once a year, by a resolution of the general meeting of shareholders. Dividends approved in the general meeting are paid to shareholders shown in the share register on the record date.

2014	1,82	0,55	30
2015	2,02	0,80	37
2016	2,08	0,80	38
2017	2,00	0,80	40
2018	2,76	0,95	34
2019	3,22	0,00	0
2020	3,63	0,85	23

Consolidated net income per share

Dividend paid per share (payment in next year)

Dividend as % of consolidated profit

General meeting resolution	Period	Gross dividend per share (€)	Dividend payment start date
37th general meeting	2020	0.85	10/06/2021
36th general meeting	2019	-	-
35th general meeting	2018	0.95	14/06/2019
34th general meeting	2017	0.80	14/06/2018
33rd general meeting	2016	0.80	20/06/2017
31st general meeting	2015	0.80	29/09/2016
30th general meeting	2014	0.55	14/07/2015
29th general meeting	2013	0.26	25/08/2014

Dividend policy

Sava Re aims at increasing its dividend by an average of 10% per year over the period 2020–2022, thus distributing each year between 35% and 45% of the net profit of the Sava Insurance Group. In preparing its annual dividend proposal, the Company will consider:

the estimated surplus of eligible own funds over the solvency capital requirement under Solvency II,
the Group’s own risk and solvency assessment,
the capital models of Standard & Poor’s and AM Best,
the approved annual and strategic plans of the Group and the Company,
new development projects to engage additional capital, and
any other relevant circumstances affecting the financial situation of the Company.

Share buy-back

Overview of purchases completed under the buyback programme (in accordance with article 4(4) of Regulation (EC) No. 2273/2003)

On the basis of the Slovenian Companies Act (ZGD), the 28th general meeting of shareholders, which took place on 23 April 2014, granted the management board of Sava Reinsurance Company authorisation to acquire own shares. The general meeting authorisation is for acquiring up to a total of 1,721,966 shares, representing 10% of the Company’s share capital, including own shares held by the Company at the date of the authorisation. The general meeting authorisation was valid until 23 April 2017. In accordance with this authorisation, the Company could acquire its own shares in or outside the regulated financial instruments market.

In line with this general meeting authorisation, the Company started repurchasing its shares in July 2014.

Initially, it acquired own shares only on the regulated market, but as of the publication date of the programme on 18 November 2014 the Company made purchases both on the regulated market of financial instruments and outside that market, in line with its general meeting authorisation.

Share repurchase programme

The share repurchase programme was also posted on the official website of the Ljubljana Stock Exchange through the SEOnet information system.

The share repurchase programme is available to the Company’s shareholders in the secretary’s office at the Company’s headquarters in Ljubljana, Dunajska cesta 56, every working day between 9 a.m. and 3 p.m.

Number of shares: 17,219,662 | Last updated: 22/04/2016

Date	Number of shares acquired	Percentage of share capital (%)	Price per share (€)	Purchased volume (€)
22/4/2016	845,599	4.9107	15.00	12,683,985.00
7/4/2016	12,921	0.0750	14.0700	181,889.37
6/4/2016	12,789	0.0743	14.1000	180,415.06
5/4/2016	12,635	0.0734	14.3000	180,770.84
1/4/2016	11,852	0.0688	14.5000	172,060.63
31/3/2016	10,408	0.0604	14.4600	150,694.93
30/3/2016	10,253	0.0595	14.4000	147,838.43
30/3/2016	150	0.0009	14.3500	2,152.50
29/3/2016	909	0.0053	14.3200	13,207.79
29/3/2016	8,080	0.0469	14.3000	115,544.00
29/3/2016	1,255	0.0073	14.3100	17,959.05
24/3/2016	1,528	0.0089	14.3000	21,861.33
23/3/2016	350	0.0020	14.1000	4,937.47
22/3/2016	10,308	0.0599	14.0000	144,384.16
21/3/2016	10,121	0.0588	14.0100	141,866.11
17/3/2016	10,052	0.0584	14.0100	140,898.93
16/3/2016	1	0.0000	13.9000	13.91
15/3/2016	9,823	0.0570	14.0000	137,590.75
23/2/2016	484	0.0028	12.0200	5,820.59
22/2/2016	458	0.0027	12.1000	5,544.57
17/2/2016	484	0.0028	12.0000	5,815.55
15/2/2016	416	0.0024	11.9200	4,965.17
12/2/2016	468	0.0027	12.1000	5,665.63
11/2/2016	427	0.0025	12.3200	5,263.27
9/2/2016	144	0.0008	12.2100	1,761.64
9/2/2016	403	0.0023	12.5000	5,037.50
5/2/2016	634	0.0037	12.5000	7,935.30
2/2/2016	665	0.0039	12.5300	8,343.29
29/1/2016	20	0.0001	12.5000	250.13
26/1/2016	855	0.0050	12.5000	10,692.84
21/1/2016	160	0.0009	12.0000	1,922.50
20/1/2016	524	0.0030	12.0500	6,328.70
20/1/2016	400	0.0023	12.1000	4,840.00
18/1/2016	951	0.0055	12.0150	11,441.12
15/1/2016	428	0.0025	12.1100	5,188.87
15/1/2016	525	0.0030	12.2700	6,441.75
14/1/2016	125	0.0007	12.1600	1,525.68
14/1/2016	275	0.0016	12.1000	3,327.50
14/1/2016	528	0.0031	12.3600	6,526.08
12/1/2016	400	0.0023	12.3000	4,925.16
12/1/2016	439	0.0025	12.3050	5,401.90
11/1/2016	400	0.0023	12.5300	5,017.00
11/1/2016	206	0.0012	12.5000	2,575.00
11/1/2016	192	0.0011	12.5500	2,409.60
8/1/2016	100	0.0006	12.5300	1,254.63
7/1/2016	300	0.0017	12.5700	3,775.91
30/12/2015	300	0.0017	12.6400	3,796.31
30/12/2015	379	0.0022	12.7000	4,813.30
29/12/2015	485	0.0028	12.8500	6,236.38
29/12/2015	159	0.0009	12.8000	2,035.20
23/12/2015	370	0.0021	12.7800	4,734.74
21/12/2015	543	0.0032	13.1300	7,138.85
18/12/2015	300	0.0017	13.3000	3,992.00
17/12/2015	264	0.0016	13.2350	3,494.04
17/12/2015	200	0.0012	13.3000	2,663.08
16/12/2015	470	0.0028	13.2000	6,207.10
14/12/2015	58	0.0004	13.1600	763.66
11/12/2015	462	0.0027	13.7150	6,344.57
7/12/2015	421	0.0025	13.7000	5,775.19
3/12/2015	195	0.0011	13.8000	2,692.35
30/11/2015	188	0.0011	13.6300	2,563.72
26/11/2015	338	0.0020	13.8100	4,673.84
24/11/2015	323	0.0019	13.6000	4,389.52
18/2/2015	184	0.0010	16.2100	2,984.13
16/2/2015	300	0.0017	16.3000	4,892.45
9/2/2015	46	0.0003	15.7000	728.02
9/2/2015	229	0.0014	16.0000	3,664.00
5/2/2015	188	0.0010	16.0100	3,008.37
4/2/2015	82	0.0005	15.2600	1,250.69
3/2/2015	328	0.0019	16.3100	5,349.37
3/2/2015	40	0.0003	15.7050	628.20
28/1/2015	32	0.0002	16.0100	519.60
28/1/2015	270	0.0016	15.9000	4,293.00
28/1/2015	5	0.0001	15.8500	79.25
23/1/2015	310	0.0018	15.9500	4,963.97
22/1/2015	504	0.0029	15.6300	7,898.46
21/1/2015	259	0.0015	15.8000	4,111.25
20/1/2015	624	0.0036	15.9000	9,943.56
16/1/2015	615	0.0036	16.0000	9,852.79
15/1/2015	385	0.0022	15.8000	6,090.91
14/1/2015	385	0.0022	16.0050	6,176.05
14/1/2015	275	0.0016	16.0000	4,400.00
13/1/2015	605	0.0035	16.0000	9,693.74
13/1/2015	65	0.0003	15.9000	890.40
12/1/2015	400	0.0023	15.9000	6,374.61
12/1/2015	305	0.0018	16.0000	4,880
7/1/2015	8	0.0000	16.0000	148.45
7/1/2015	450	0.0026	16.1000	7,245.00
6/1/2015	50	0.0003	16.3000	815.42
6/1/2015	1	0.0000	16.3500	16.35
5/1/2015	277	0.0016	16.3000	4,525.65
5/1/2015	1,023	0.0059	16.2000	16,572.60
30/12/2014	264	0.0016	15.6000	4,118.40
30/12/2014	544	0.0032	15.4900	8,426.56
30/12/2014	50	0.0003	15.5000	775.00
29/12/2014	1,105	0.0065	15.3750	16,989.38
22/12/2014	1,856	0.0108	16.1000	29,881.60
18/12/2014	494	0.0029	15.1600	7,498.77
17/12/2014	2,386	0.0139	15.4000	36,792.17
16/12/2014	3,210	0.0187	15.2000	48,855.43
15/12/2014	32	0.0002	15.6000	500.05
2/12/2014	368,099	2.1372	16.3000	6,000,013.70
23/10/2014	456	0.0026	15.0100	6,853.46
20/10/2014	386	0.0022	15.0000	5,797.53
17/10/2014	52	0.0003	14.6100	760.71
16/10/2014	368	0.0021	14.9400	5,505.07
14/10/2014	845	0.0049	15.0168	12,705.66
25/7/2014	710	0.0041	13.9700	9,932.48
24/7/2014	1	0.0000	13.2600	13.87
23/7/2014	329	0.0019	14.0000	4,611.98
14/4/2014	346,433	2.0118	11.2450	3,895,639.09
until 25/4/2013	210
Total	1,721,966	9.9999		24,910,640.33

Share ownership

POSR shares held by members of the supervisory and management boards as at 30 September 2021

	Number of shares	Holding
Marko Jazbec, chair of the management board	10,365	0.060%
Jošt Dolničar, member of the management board	4,363	0.025%
Polona Pirš Zupančič, member of the management board	3,748	0.022%
Peter Skvarča, member of the management board	850	0.005%
Andrej Gorazd Kunstek, member of the supervisory board	2,900	0.017%
Mateja Živec, member of the supervisory board	1,000	0.006%

Source: Central securities register KDD d.d.

Analyst coverage

Analyst coverage links

listed-sme.com

inter.capital
Dino Dürrigl
Analyst

Updated analysis available (August 2021)

wood.cz
David Lojkasek
Equity Analyst

Updated analysis available (September 2021)

Ilirika
Lojze Kozole
Analyst

Share performance

What return has an investor achieved who invested in the Sava Re share in the 2008 initial public offering?

Click on table to enlarge

How to read this table?

Example in first table: An investor bought one Sava Re share at the end of 2016 and sold it at the end of 2020. The investment would have produced an average return of 12.3% a year, which is inclusive of any dividends paid.

Example in second table: An investor bought one Sava Re share at the end of 2016 and sold it at the end of 2020. The investment would have produced a return of 59.2% over the period, which is inclusive of any dividends paid.

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