The Croatian holding ADRIS Grupa and the shareholder of the largest Croatian insurer - CROATIA osiguranje, have lost the legal battle in Supreme Court due to an increase in their stake in Slovenian SAVA Re, informed local media.
The Italian group GENERALI informed its Slovenian asset management arm - GENERALI Investments Slovenia - is in the process of acquiring ILIRIKA FM AD SKOPJE by merger with GENERALI Investments AD Skopje, a subsidiary of the oldest asset management company in Slovenia, GENERALI Investments. GENERALI mentioned the transaction is subject to relevant regulatory and competition approval.
Slovenian Life insurer NLB Vita becomes part of the SAVA Insurance Group —
one of the top three insurance groups in the Adria region, after on May 29 —
the two involved parties —
KBC Insurance and Nova Ljubljanska banka —
closed the transaction announced on 27 December 2019
Slovenian insurance industry totaled EUR 2.52 billion at the end of 2019, 7.53% more y-o-y according to the Slovenian Insurance Association's year-end report. Non-life insurance made up 70% of total GWP, while the share of life insurance premiums was 30%.
Slovene re/insurance groups TRIGLAV and SAVA Re informed that following the recommendation received on March 31st, 2020 from the Slovenian Insurance Supervision Agency, they will temporarily suspend the dividend payments for 2019.
The GWP value of Slovenian insurers totaled EUR 1.90 billion in the first nine months of 2019, a 6.91% increase y-o-y, according to the Slovenian Insurance Association's Q3 report.
The Insurance Supervesion Agency of Slovenia authorised the merger of local players Zavarovalnica GENERALI and ADRIATIC SLOVENICA, with the procedure to be finalised with the entry into the court register, expectedly at the beginning of 2020, local media wrote.
Sava Re d.d. announced that it is considering options for issuing subordinated bonds to optimize the capital structure of the Sava Insurance Group. The Company will decide on whether to move forward with the bond issue after examining all market conditions.
For the first six months of 2019, Slovenian insurance market wrote a total amount of EUR 1,317 million gross premiums, 6.6% more than the volume of the same period of prior year. The total paid claims and benefits volume was EUR 784 million, decreasing by 0.6%.
On 29 August 2019, Zavarovalnica Triglav announced that David BENEDEK has assumed the office on the Management Board of Zavarovalnica Triglav, for a five-year term.
Sava Re and Triglav Group announced the acquisition of 80% share capital of Diagnostic Centre Bled (Diagnosticni center Bled d.o.o.), representing 100% of the voting rights through their jointly-owned company ZTSR d.o.o..
In July 2019, S&P announced it has reaffirmed the "A" Long-Term Credit Rating and Financial Strength Rating of TRIGLAV Group and affirmed the financial strength rating of SAVA Re Group to "A". Both ratings have a stable medium-term outlook and are valid also for the groups' parent companies and subsidiaries.
The GWP value of Slovenian insurers totaled EUR 672.7 million in the first quarter of 2019, a 4.6% increase y-o-y, according to the Slovenian Insurance Association's most recent report. Non-life insurance made up 72.2% of total GWP, while the share of life insurance premiums was 27.8%.
On 19 June 2019, Slovenian Sovereign Holding (SDH) successfully completed the privatisation process of Nova Ljubljanska banka, d. d. (NLB). The Republic of Slovenia will remain the largest shareholder of NLB, with a 25% stake plus 1 share.
In 2018, there was a total of 7,285 "Green Card" claims for motor accidents caused by Slovenian vehicles, almost three times higher than 2,456 Green Card claims for motor accidents caused by foreign vehicles inside Slovenia, Slovenian Insurance Association (SIA) figures show.
Slovenian reinsurer SAVA Re announced it has acquired the remaining 84% shareholding interest in local investment fund management company INFOND. The price of the deal was not disclosed.
Andrej Gorazd KUNSTEK and Mateja ZIVEC were reappointed as employee representatives to serve another term on the Company's supervisory board. Both members are to begin their new terms of office on 12 June 2019.
Slovenia-based Triglav Group registered a profit of EUR 26 million in the first quarter of 2019. Investments played the biggest role for the 9% increase in Group's profit. Triglav's activity outside Slovenia slightly increased compared to 2018 Q1.