Economic performance defined by the strategic goals in all areas and reported more extensively in the financial part of the report is the key performance indicator for the operations of the Sava Re Group. This is achieved through timely risk identification and management. We believe that both financial and non-financial risks have an impact on the economic performance of the Company.
Distributed economic value of the Sava Re Group, as follows from the table below, amounted to EUR 560.9 million in 2018. It consists of net claims incurred and other insurance expenses, expenses for financial assets, other expenses, operating expenses, dividend payouts, tax expenses, community investments in the form of prevention, donations and sponsorships, payments, benefits and bonuses to employees.
Direct economic value generated and distributed of the Sava Re Group82
Other economic impacts
Economic value generated*
Economic value distributed
Net claims incurred and other technical expenses
Expenses for financial assets
Income tax expense
Investments in the social community (prevention, donations, sponsorships)
Employee payments, allowances and benefits
Economic value retained
* Economic value generated = net premium earned + other technical income + investment income + other income ** Operating expenses include commissions and other operating costs excluding personnel costs, sponsorships, prevention and donations