Dear Shareholders,
Business Partners
and Valued Colleagues,
It gives me great pleasure and pride to share with you that we have recently completed a year of exceptional achievements. These are no coincidence but rather reflect the invaluable commitment and dedication of our people and the sound business decisions we have made. Stable growth in our operations, thoughtful expansion and prudent risk-taking, aided by tailwinds from favourable claims experience, led to excellent business performance. Additional recognition of our past efforts came from the rating agencies S&P Global Ratings and AM Best; the former upgraded our credit rating to “A+”, while the latter affirmed our “A” rating, both with a stable outlook.
Stable growth in our
operations, thoughtful
expansion and prudent risktaking,
aided by tailwinds from
favourable claims experience,
led to excellent business
performance.
The net profit of the Sava Insurance Group amounted to EUR 114.1 million in 2025 and surpassed the EUR 100 million mark for the first time. The Group thus achieved a return on equity of 15.9%. The volume of business increased by 9.5%, exceeding the planned growth, and notably every business segment contributed to this. Outstanding growth of 23% was recorded in reinsurance, resulting from increased participation in existing business and new business generated in selected new markets. We were also encouraged to see a positive trend in the combined ratio, which, largely due to favourable claims developments, decreased by 3.9 percentage points to 87.4%
The excellent performance was also mirrored in the share price, as the Sava Re share rose by as much as 66.3% in 2025, outperforming both the Slovenian stock index and the STOXX Europe 600 Insurance index. We are pleased that retail investors have likewise recognised Sava Re as an attractive investment opportunity.
The year 2025 also brought very positive developments in our cooperation with business partners: we further strengthened our collaboration with existing bancassurance distribution channels in Slovenia and established new ones in our markets outside the EU. We believe that strong and reliable long-term partnerships are key to our shared growth and development.
Throughout the year, we directed our activities towards the Group’s strategic priorities, thereby laying the groundwork for our continued success in the years ahead. As part of our customer-atthe-centre policy, we further streamlined key processes, including the conclusion of insurance contracts, and the reporting and handling of customer claims. We also further developed self-service portals for customers and expanded our business communication with them through digital channels. As customer satisfaction is one of our core strategic priorities, we expanded our systematic monitoring based on regular feedback to cover a wider range of processes. Customer feedback also drives continuous improvements and adjustments to processes, helping us deliver an even better customer experience. We optimised the operation of our call centre, shortened response times and reduced the number of follow-up calls. We introduced additional digital channels, enabling customers to choose the method of communication that suits them best. In claims handling, we provided customers with clearer insight into the progress of their claim and introduced an online booking system for damage surveys. We further eased the process for customers by introducing automated retrieval of data from official databases and registers, thereby saving them time.
To capture the full potential of artificial intelligence, we established the central SavaAI programme, through which we systematically identify areas where it can deliver the greatest impact. In introducing and using artificial intelligence tools, we are guided by a clear awareness of the need to ensure their safe, reliable and effective use.
Sustainability is not just a strategic priority for us – it is part of what we do every day. In 2025, we made progress in decarbonising the value chain. We systematically integrate sustainability criteria into investment decisions, supplier selection and evaluation procedures, and product development. By the end of 2025, the share of ESG investments reached our 25% target. As an entity subject to the CSRD Directive, the Sava Insurance Group published its first audited sustainability report last year, prepared in line with the European Sustainability Reporting Standards (ESRS), which significantly strengthens the transparency, comparability and credibility of reporting on the achievement of our sustainability goals. We also create positive impacts through socially responsible initiatives at the Group level. Through sponsorships, donations, prevention programmes and volunteer activities, we build long-term relationships with the community while nurturing a sustainabilityoriented organisational culture.
We look ahead to 2026 with measured optimism. In an increasingly uncertain world shaped by geopolitical tensions and rapid technological progress, where artificial intelligence is revolutionising everyday processes, we believe our mission to help ensure security and quality of life matters more than ever. As an insurance group, we remain committed to meeting our customers’ needs and providing appropriate protection for both individuals and businesses.
In 2026, we will remain firmly focused on achieving our annual goals, while also looking further ahead. We are intensively preparing for the new strategy period, as we are developing a new medium-term strategy that will be ambitious and will address key transformation trends, in particular artificial intelligence, digitalisation, data and sustainability. At its core, however, will remain care for our customers and the creation of value for our shareholders.
Dear shareholders, partners and colleagues, thank you for your continued support and the trust you have placed in the Sava Insurance Group.
Marko Jazbec
Chairman of the Management Board of Sava Re d.d.
Downloads
Download section