According to unaudited results, the Sava Insurance Group generated EUR 674.9 million in operating revenues in 2020, which represents growth by 15.5% in comparison to the previous year, despite a significant increase in the risk of potential additional adverse effects of the pandemic on the Group’s operations. Net profit amounts to EUR 56.4 million, which is an increase by 12.3% in comparison to the previous year and is higher than planned. This increase in the outcome of good results in the life and non-life insurance segments, but also due to higher receivables in the reinsurance segment on the international market.
In 2020, the Group generated EUR 679.7 million in gross premiums, which is an increase by 13.6% in comparison to the previous year.
Gross claims paid in the Slovenian non-life segment decreased significantly, primarily in car insurance, which is a reflection of the lower frequency of claims. On the other hand, there were more claims and significantly higher losses in the reinsurance segment, many of which related to the Covid-19 pandemic.
Although 2020 was full of surprises and changes due to the pandemic, the members of the Sava Insurance Group in Serbia managed to quickly adapt to the newly emerging situation and achieve good results.
In 2020, Sava životno osiguranje achieved premiums 30.9% higher than in 2019. Investment income in 2020 was 20.6% higher than planned.
Sava neživotno osiguranje exceeded the 2020 invoiced premium plan by 4.9%. Gross premium per employee increased by 20.8% in comparison to the amount planned for 2020.
In 2020, Sava Insurance Group enhanced its projects for the development of digital solutions in order to provide its clients with faster and easier access to its services and paid special attention to investment opportunities in projects focused on the environment and sustainability.