trending Market Intelligence /marketintelligence/en/news-insights/trending/tp0k9adkcuwbr203ybipww2 content esgSubNav
In This List

Slovenian regulator bans Croatia osiguranje from increasing stake in Sava

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Slovenian regulator bans Croatia osiguranje from increasing stake in Sava

The Slovenian Insurance Supervision Agency once again barred Croatian insurer CROATIA osiguranje dd and its parent company Adris grupa dd from increasing their stake in Slovenia-based Pozavarovalnica Sava dd to a level greater than 20% and lower than one third.

Croatia osiguranje can contest the regulatory decision in the Slovenian Administrative Court, the company said May 25 without disclosing reasons behind the rejection.

The Slovenian regulator already banned the two companies before from increasing their stake in Sava, saying that Croatia osiguranje's exposure to Croatian government bonds could pose a risk for the Slovenian insurer in case of a new economic crisis. Croatia osiguranje referred the decision to the Administrative Court, which ruled in favor of the company in March 2018, requesting the Insurance Supervision Agency at the time to reconsider the application.