Insurer Sava unveils new strategy, aims to continue growing
Sava is expected to wrap up the takeover of life insurer NLB Vita soon. The group met its 2017-2019 synergy targets in merging four insurers. Moreover, it also strengthened its trademark in the region.
During the next three years, Sava will aim to facilitate taking out, managing and claiming insurances as well as upgrade its IT systems.
The group, with companies in Slovenia, Croatia, Serbia, Montenegro, Kosovo and North Macedonia, plans to increase its revenue by 4% on average every year, says the strategy, published on the website of the Ljubljana Stock Exchange on Monday.
In 2022, the group's revenue is thus expected to exceed EUR 650 million, a spike worth more than EUR 60 million in three years.
Meanwhile, Sava expects growth to slow in Slovenia's insurance sector due to the expected drop in selling new cars, while in the Adria region the revenue will be boosted. However, regardless of the area, the group expects to sell more new insurances.
Regarding the investment strategy, Sava will aim to maintain high-level asset security as well as liquidity and do away with any risks.
The group's core company Sava Re will also ensure average dividend growth by 10% per year, thus paying out 35%-45% of its net profit every year.