The sustainability-orientation of the Sava Insurance Group is driven by its mission and values.
We are building a customer-centric, flexible and sustainability-oriented insurance group.
We build long-term corporate social responsibility in continuous dialogue with our stakeholders, supporting global sustainability goals, with a particular focus on climate change, the health and well-being of our customers, employees and the wider community.
Group companies strive to be seen by their stakeholders as:
- credible and socially responsible partners,
- socially responsible asset and equity managers,
- responsible and attractive employers,
- socially responsible towards the wider community.
Sustainable Business Policy of the Sava Insurance Group
Sustainable Development Strategy of the Sava Insurance Group for 2023–2027
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Sustainability Investment Policy of the Sava Insurance Group and Consideration of the Principal Adverse Impacts
The key document governing the Group’s approach to sustainable investing and the integration of sustainability risks into the investment process is the Sustainability Investment Policy of the Sava Insurance Group. The policy is based on the principles of integrating environmental, social and governance (ESG) considerations into investment decision-making processes, and identifies industries that do not comply with sustainability and responsible guidelines and in which Group companies do not invest, thereby limiting the adverse impacts of investment decisions. In managing their investment portfolios, the Group companies, including the parent company Sava Re d.d., consistently adhere to and implement the Group’s sustainability investment policy and consider the principal adverse impacts of investment decisions on sustainability factors.
It follows from the SFDR Regulation that Sava Re d.d. does not meet the criteria for a “financial market participant” set out in Article 2(1)(a) of the Regulation, which means that the Company is not obliged to comply with the requirements set out in Article 4(3) of the Regulation.
Group companies that meet the criteria of a financial market participant disclose on their websites by 30 June each year whether they take into account the principal adverse impacts of investment decisions on sustainability factors, as required by Article 4(1)(a) and (b) of the SFDR Regulation. These companies are Zavarovalnica Sava d.d., Sava Infond d.o.o., Sava Pokojninska Družba d.d. and Vita, Življenjska Zavarovalnica, d.d.
Sustainability Investment Policy of the Sava Insurance Group
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Sava Insurance Group’s guidelines for responsible underwriting of environmental, social and governance risks in the non-life insurance business
In January 2022, the management board of Sava Re adopted sustainability guidelines for the Group’s non-life portfolio. The purpose of the guidelines is to provide a framework for the responsible underwriting of environmental, social and governance (ESG) risks under non-life insurance policies issued by Sava Insurance Group members.
Sustainability Guidelines for the Group’s Non- life Portfolio
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Remuneration of Sava Re
The Company’s remuneration policy establishes the framework for planning, implementing and monitoring remuneration systems and schemes that support the Company’s and the Group’s long-term strategy and risk management policy. The policy is designed to promote the Company’s sustainable operations and sustainability, with all the incentive systems at all organisational levels contributing to the Company’s sustainability by aligning the goals and individuals’ behaviour with the long term-mission and building long-term value for all stakeholders and the Company’s reputation, while avoiding risks that exceed the Company’s risk appetite.
