Ljubljana - The shareholders of insurance company Sava Re approved the proposal of the management and supervisory boards to distribute EUR 23.3 million from last year's distributable profit of EUR 37.05 million for dividends. The dividend will amount to EUR 1.50 gross per share, and the rest of the distributable profit will remain unallocated.

The dividend is by 76.5% higher than last year's, which stood at 85 cents gross, and will be paid out on 12 July.

Save Re is partly state-owned, with Slovenian Sovereign Holding (SSH) managing 19.6% on behalf of the state and the state directly owning another 15.4%.

The shareholders discussed last year's results and gave the management and supervisory boards discharge of liability.

Deloitte Revizija was selected as the company's auditor for 2022, 2023 and 2024.

The AGM approved the report on the remuneration of members of the management and supervisory bodies for 2021.

However, the consultative resolution to approve the remuneration policy was not adopted. While the policy is in line with the legislation and is in force, it deviates slightly from SSH's recommendations published last March. The company now plans to eliminate the discrepancies by the next AGM.

The remuneration report and the remuneration policy will be published on the company's website for a minimum period of 10 years.

The Sava group, with Sava Re its holding company, posted a record net profit of EUR 76.2 million in 2021, up 35.1% from 2020, and 43.8% above plans. Revenue increased by 7.6% to EUR 732.7 million.