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The core company Pozavarovalnica Sava doubled its net profit to EUR 5.2m despite the fact that gross premiums were down by 9.9% to EUR 53m.

The Novo mesto-based insurer Tilia contributed EUR 27.4m to the group's premiums in the first quarter, which is 2% less than in the first quarter of 2013. Tilia's quarterly profit stood at EUR 1.3m.

Assessing the results as good and announcing that the annual goals will be achieved, Sava Re management said the first quarter of the year was marked by steep growth in pay outs because of the February ice storm.