Despite the negative effects of COVID-19, it is still operating with a very high solvency ratio of 274% (-3 p.p. compared to year-end 2019)

Croatia Osiguranje published announcement on ZSE that the company made a regular solvency calculation as at 31 March 2020, which showed that despite the negative effects of COVID-19, it is still operating with a very high solvency ratio of 274%. This represents a slight decrease of 3 p.p. compared to year-end 2019.

The company states that this confirmed earlier assessments that the solvency ratio should remain at levels significantly higher than those prescribed in the regulations, as well as that the Company’s solvency should in no way be brought into question because of the effects of the above disease.

Also, based on the currently available information, further development of the situation with COVID-19 and its impact on the Company’s operations did not have any significant negative effects on the Company’s solvency.

In regard to liquidity, the Company adds that they still has a satisfactory amount of liquid resources that is sufficient for discharging all obligations that have become due; it also has at its disposal instruments available for obtaining additional liquidity if necessary.