Business plan for 2024: Sava Insurance Group plans secure and profitable growth across all business segments
December 14, 2023 at 08:14 am
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BUSINESS PLAN
December 2023
OF THE SAVA
INSURANCE GROUP
FOR 2024
Disclaimer
Forward-looking statements
This document may contain forward-looking statements relating to the expectations, plans or goals of the Sava Insurance Group (the Group), which are based on estimates and assumptions made by the management of Sava Re (the Company). By their nature, forward-looking statements involve known and unknown risk and uncertainty. As a result, actual developments, in particular performance, may differ materially from the expectations, plans and goals set out in this document; therefore, persons should not rely on forward-looking statements.
Duty to update
The Group and the Company assume no statements or other information contained applicable laws and regulations.
obligation to update or revise any forward-looking in this document, except to the extent required by
Alternative performance measures
This document may contain certain alternative performance measures used by the Company's management board to monitor the business, financial performance and financial position of the Group and the Company and to provide investors with additional information that management believes may be useful and relevant to understanding the Group's results. These alternative financial indicators or benchmarks generally do not have a standardised meaning and therefore may not be comparable to similarly defined benchmarks used by other companies. Therefore, no such indicators or measures should be considered in isolation from, or in place of, the consolidated financial statements of the Group and the related notes prepared in accordance with IFRS standards.
Business plan of the Sava Insurance Group for 2024
2
Heading into the second year of our 2023-2027 strategy
Key development areas in 2024
Focusing on the customer
Streamlining business processes
Building sustainability
Modernising information technology
Building teams of satisfied and motivated
Growing through acquisitions
employees
Business plan of the Sava Insurance Group for 2024
3
Approaching one billion euros in business volume
Key performance targets planned for 2024
Growth in
Business
Return
Net profit
business volume*
volume*
on equity
for the year
> 5%
> €925m
> 10.5%
> €70m
Solvency
Combined
Return on
ratio
ratio
investment portfolio
optimal
non-life insurance +
capitalisation range
reinsurance
170-210%
< 95%
2.2%
* Gross premiums written for (re)insurance companies and operating revenue for non-insurance companies.
Business plan of the Sava Insurance Group for 2024
4
Planning for continued growth in all our operating segments
Business volume growth planned for 2024
Non-life, EU
Life, EU
Reinsurance
> 6%
> 2%
> 1%
Non-life,non-EU
Life, non-EU
Asset management
> 8%
> 10%
> 5%
Business plan of the Sava Insurance Group for 2024
5
THANK YOU FOR YOUR ATTENTION.
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Pozavarovalnica Sava dd published this content on 14 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 December 2023 08:13:54 UTC.
Pozavarovalnica Sava dd (or Sava Reinsurance Plc), also known as Sava Re dd, is a Slovenia-based reinsurance undertaking. It operates as a parent company of Sava Re Group, which comprises direct insurance and pension undertakings. The Companyâs activities are divided into four segments: Reinsurance operations, Non-life insurance operations, Life insurance operations and Other business segment. The Reinsurance operations segment comprises treaty and facultative arrangements for intra-group clients and insurance and reinsurance partners worldwide. The Non-life insurance operations segment supports local markets with non-life insurance products and customer oriented services. The Life insurance operations segment is focused on life protection and saving products, including pension schemes. The Other business segment comprises operations of the Companyâs non-insurance subsidiaries. Sava Re Group operates through subsidiaries in Slovenia, Croatia, Serbia, Macedonia, Montenegro and Kosovo.