The company’s profit target for 2019 accounts for one loss for a CAT event of EUR 5m. Assuming there are no further claim events of a similar magnitude, the Group states that they can still achieve their profit target for 2019.
Sava Re published a document regarding the estimated claims burden from a Typhoon in Japan.
As a reminder, in October of this year, Japan was hit by Typhoon Hagibis, one of the worst storms in the region in decades. The company notes that according to latest estimates, the claims payable by Sava Re under its reinsurance treaties will exceed EUR 5m.
The company’s profit target for 2019 accounts for one loss for a CAT event of EUR 5m. Assuming there are no further claim events of a similar magnitude, the Group states that they can still achieve their profit target for 2019.
For FY 2019, the main targets of Sava Re are:
- an increase of 4.5% in operating revenues
- gross written premiums above EUR 555m
- net premiums earned above EUR 515m
- a net profit of at least EUR 43m; > 10% growth based on 2018 estimate
