Slovenia s Sava Insurance Group plans rise in profit to 53 mln euro in 2021 Photo: Slovenia s Sava Re
LJUBLJANA (Slovenia), December 21 (SeeNews) - Slovenia s Sava Insurance Group forecasts a 53 million euro ($65 million) net profit for 2021, up from 50 million euro this year s plan , reinsurer Sava Re [LJE:POSR], the ultimate parent company of the group said.
The group plans to earn gross written premiums of over 685 million euro next year, up from the 640 million euro planned for 2020, Sava Re, said in a statement on Friday.
The profit planned for 2021 will translate into a return on equity of at least 11.5%. The management board believes that, given the impacts of the Covid-19 pandemic, the business plan is ambitious and has considered all key aspects required to support the Group’s sustainable long-term development, risk management and appropriate profit generation, Sava Re said.