Slovenian Reinsurer Sava Re To Raise Stake in Kosovo's Dukagjini Life to 100%

Sava Re's Supervisory Board approved on September 23 the purchase of the 49% of Dukagjini Life that the company does not already own, the Slovenian company said in a filing with the Ljubljana Stock Exchange (LJSE) on Thursday.

No further details were immediately available.

Sava Re Group, acting together with a local partner, established Dukagjini Life in Pristina in 2008 with an initial capital of 3.5 million euro ($5.1 million euro), data from the Slovenian company's website indicated.

At the end of 2008, Sava Re Group was present on the insurance markets of Slovenia, Serbia, Montenegro, Macedonia and Kosovo, and in the global reinsurance market. In addition to insurance and reinsurance, the Sava Re Group also provides investment fund products.

Sava Re shares, part of the LJSE's broader SBI20 index, closed down 1.3% at 15.20 euro on Thursday.

($=0.6807 euro)