SLOVENIA
SBITOP gained 0.14 percent reaching 818,12 points
The best gainers were the stocks of SavaRe (POSR) on the basis of their good business result having recorded a 5.5 percent growth of premiums in 2017. Zavarovalnica Triglav (ZVTG) which had more then seven percent premium growth in 2017, was the second biggest gainer of the day at 0.63 percent increase. ZVTG was flowed by Krka (KRKG) with 0.35 percent price increase.
Petrol to make a final decision on paying out 16 EUR per share dividend. Results of SavaRe and Zavarovalnica Triglav promise high level dividends
The total profit for appropriation as of 31st December 2017, amounting to € 32,985,568.00, will be distributed as dividend payments to shareholders. Gross dividend of € 16.00 per share is proposed (own shares do not participate).
Source: Petrol, LJSE
In 2017 the Sava Re Group wrote €517.2 million in gross premiums, an increase of 5.5% over 2016 and 4.7% more than planned.
The performance of the Sava Re Group was marked by premium growth in all markets where it is present. Profits are within the planned range although impacted by some large claims. These were offset by better cost efficiency and synergy gains following the merger of the Group’s insurance companies based in Slovenia and Croatia. In 2017 the Sava Re Group wrote €517.2 million in gross premiums, an increase of 5.5% over 2016 and 4.7% more than planned. In Slovenia, gross non-life insurance premiums grew by 5.7%, while gross life insurance premiums rose by 3.7%. The Sava Re Group achieved a high, nearly 10% premium growth in international markets, both in non-life and life insurance business. Gross premiums written relating to the reinsurance segment grew by 3.8%. The Sava Re Group closed 2017 with a net profit of €31.1 million euro and a 10.1% return on equity. Net profit for the year declined by 5.5% compared to the previous year, largely as the result of a number of weather-related claims that impacted both insurance and reinsurance operations, with gross claims paid increasing by 14.9% and net claims incurred by 10.3%. The profit of Zavarovalnica Sava was impacted by storm losses (of about €11.9 million in total), while the reinsurance portfolio performed somewhat poorer than in 2016 due to major international claims, most notably claims relating to hurricane losses in the Caribbean and the USA of €4 million, and a major loss event in Russia of €3.8 million.
Source: SavaRe, LJSE
Sava Re acquires Serbian insurer Energoprojekt Garant a.d., Belgrade
Sava Re, d.d. is continuously seeking growth opportunities, also through acquisitions. Last year, one such opportunity presented itself in Serbia, when Energoprojekt Holding a.d., Belgrade offered for sale 92.94% of the insurer Energoprojekt Garant a.d., Belgrade. Established in 1992, the company is a small Serbian insurer specializing in construction and liability insurance. Sava Re estimated that taking over the insurer would allow it to further diversify its Serbian non-life insurance portfolio (away from motor business).
Source: SavaRe, LJSE
INTERNATIONAL MARKETS
German Trade Surplus Widens in January
The German trade surplus increased to EUR 17.4 billion in January of 2018 from EUR 14.6 billion in the same month a year earlier, as exports rose by 8.6 percent to EUR 107.1 billion and imports grew by 6.7 percent to EUR 89.7 billion. On a seasonally adjusted basis, the trade surplus was little changed at EUR 21.3 billion (from EUR 21.4 billion in a month earlier) while markets estimated a EUR 21.1 billion surplus. Exports fell by 0.5 percent from the prior month, after a 0.3 percent rise in December and missing estimates of a 0.3 percent growth. Imports dropped by 0.5 percent, compared to a 1.1 percent rise in a month earlier and worse than forecasts of a 0.1 percent fall.
7 hours ago
Source: TE
SERBIA
Budget surplus in January at RSD 22.1bn
Serbian budget delivered RSD 22.1bn of surplus in January, this year, Ministry of Finance reported on Friday. Tax revenues amounted to RSD 77.7bn, out of which VAT contributed with RSD 32.7bn, while excise tax with RSD 31.4bn. Budget law for this year envisages RSD 28.4bn deficit for fully year level, which is 0.6% of the country’s GDP.
Source: Beta, Ilirika
JESV: Jedinstvo bought back additional 100 own shares
Jedinstvo Sevojno (JESV) bought back additional 100 of its own shares at a price of RSD 5,000 per share, the company reported. In total, the company now holds 20,604 own shares, which is 6.76%.
Source: Belex, Ilirika
