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Reinsurer Sava Re's Profits Down Nearly 95%

Ljubljana, 29 May - Reinsurer Sava Re generated EUR 232,000 in net profit in the first quarter of 2009, which is 94.7% less than in the same period last year, according to unaudited and unconsolidated data. Gross reinsurance premiums increased by 49.1% to EUR 48.93m, while gross damages were up 43% to EUR 24.32m, the company reported on Friday.

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© STA, 2009