Slovenian reinsurer Sava Re wraps up capital increase of Macedonian subsidiary.

By bne IntelliNews October 23, 2012
Slovenian reinsurer Sava Re said that the capital increase of its Skopje-based subsidiary, non-life insurer Sava osiguruvanje, has been listed in the central business register of Macedonia on Oct 17. The subscribed amount was EUR 1,999,998. Sava Re adds that before the capital hike it bought 446 Sava osiguruvanje shares in two transactions worth combined MKD 3.2mn (approximately EUR 52,260). The Slovenian company now owns a 91.53% stake of the Macedonian insurer, up from 81.84% at end-2011. Sava osiguruvanje reported gross written premiums of MKD 327.7mn in H1.

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