Sava Re of Slovenia First-Quarter Net Doubles on Lower Costs

Pozavarovalnica Sava d.d., Slovenia’s biggest re-insurer known as Sava Re, said net income in the first quarter almost doubled as the company lowered costs.

Net income rose to 3.7 million euros ($4.6 million) from 1.9 million euros in the same period a year earlier, the Ljubljana-based company said in a regulatory statement. Gross written premiums advanced 11 percent to 92.4 million euros, it said.

To contact the reporter on this story: Boris Cerni in Ljubljana at bcerni@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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