Ljubljana, 21 December (STA) - Reinsurance group Sava Re plans to increase net profit by at least 10% to EUR 43m in 2019, with revenue growth to exceed 4.5% and return on equity to increase by 12%, the group announced on Friday. For Slovenia, the group puts forward digitalisation and technological modernisation of business as key goals for next year.
Special emphasis will be put on developing assistant services in connection with insurance products, and providing assistance through the company's service centre.
As a result, the company plans to grow its Slovenian non-life business by 2%, "while life insurance premiums are expected to drop by 4%, an expected result of a large number of upcoming policy maturities," the company said in a release.
Outside Slovenia, the group's non-life insurance arms are planning a growth of 6% and life insurers expect a 13% growth in gross premium written.
Gross inflow in pension funds is expected to grow by more than 30% next year, mostly because the results of its Macedonian pension company, which was taken over in March 2018, will be incorporated in the consolidated results for the full year.
The group expects its pension company in Slovenia to record a 2% growth in gross inflow and the inflow in its Macedonian pension company to grow by 10%.
The planned return on the group's investment for 2019 will continue to be influenced by low interest rates and will top 1.7%. Sava Re expects that it will no longer significantly decrease in light of assessments for 2018.