While Pozavarovalnica Sava speaks of a 86.6% year-on-year increase in profit, the comparison is affected by the acquisition of a nearly 50% stake in insurer Zavarovalnica Maribor earlier this year, which gave the reinsurer almost 100% ownership.

The group's gross premiums increased by 19.9% to EUR 190.1m, EUR 42.5m of which were accounted for by the inclusion of Zavarovalnica Maribor.

Consolidated gross damages grew by EUR 23.8m or 37.4% to EUR 86.5m, with Zavarovalnica Maribor accounting for EUR 24.4m.

The net profit of the core company meanwhile reached EUR 9.2m in the first six months, which is a 100% increase on last year.