Sava Re takes over Energoprojekt Garant

The Slovenian insurance company Sava Re announced on Friday, March 9, 2018, that it had bought a 93% stock in the Serbian insurer Energoprojekt Garant, which specializes in liability insurance.

As the Kamatica portal reports, Sava bought the majority stock in Energoprojekt Garant at the Belgrade Stock Exchange. In the upcoming period, they want to become the sole owner of Garant and merge it with their company in Serbia.

Sava Re signed the agreement on the purchase of Energoprojekt Garant with the Belgrade-based company Energoprojekt Holding in November 2017, for which it needed the authorization of the National Bank of Serbia and other regulating bodies, which was obtained last Friday.

In addition to Slovenia, Sava Re has companies in Croatia, Serbia, Montenegro and Macedonia.

Marko Jazbec, Chairman of the Management Board, says that they are considering the markets of Bosnia and Albania. He adds that they would look to use smaller takeovers to strengthen their presence in Serbia and Croatia, where they are currently a minor player, though these markets seem very significant to them, Kamatica writes.

Pozavarovalnica Sava Re d.d. Ljubljana

SAVA NEŽIVOTNO OSIGURANJE a.d.o. Beograd

Energoprojekt garant a.d. Beograd

Beogradska berza a.d. Beograd

Energoprojekt Holding a.d. Beograd

Narodna banka Srbije Beograd

Sava Re

Energoprojekt Garant

Belgrade Stock Exchange

Energoprojekt Holding

National Bank of Serbia

NBS

liability insurance

Marko Jazbec

acquisition of Energoprojekt Garant

sale of Energoprojekt Garant

purchase of Energoprojekt Garant

construction works insurance

construction project insurance