Insurer Sava Montenegro raises share capital by 19.4%.

By bne IntelliNews December 15, 2010
Second-largest local insurer Sava Montenegro increased its share capital by 19.4% to EUR 6.2mn, the company said in a statement to the Montenegro Stock Exchange. Slovenian Sava Insurance bought Sava Montenegro for EUR 15mn at end-2007. Sava Montenegro has a market share of 17.9% as of end-October, according to data from the Insurance Supervision Agency. Lovcen Osiguranje is the market leader, controlling almost half of the market. Eleven insurance companies operate in Montenegro.

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