Pozavarovalnica Sava dd : Announcement on registration of capital increase in subsidiary Sava životno osiguranje a.d.o., Belgrade
October 30, 2014 at 05:21 am
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Monday, 27/10/2014
Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and relevant legislation, Pozavarovalnica Sava d.d., Ljubljana, Dunajska 56, 1000 Ljubljana hereby announces the following:
Pursuant to Articles 106 and 386 of the Market in Financial Instruments Act (ZTFI, Off. Gaz. of the Republic of Slovenia, No. 67/2007) relating to the announcement of regulated information, Pozavarovalnica Sava d.d. hereby announces that on 21 October 2014, the capital increase in the life insurance subsidiary Sava životno osiguranje a.d.o. Belgrade for total share capital of RSD 311.550.405,75 was registered with the Business Register Agency, Belgrade.
In the recapitalisation of Sava životno osiguranje a.d.o., Belgrade, which is 99,9 percent owned by Pozavarovalnica Sava d.d., 128.300 new shares were issued at a total nominal value of RSD 47.607.151,96.
This announcement will be available on the Company's website at www.sava-re.si, at least five years from the date of this announcement.
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.