Sava: Solvency II sub-debt (EBRD-51442)

Countries
  • Slovenia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 14, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
POZAVAROVALNICA SAVA DD
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 11.03 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 10
Converted using 2019-10-14 exchange rate.
Loan Amount (USD)
$ 11.03 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 82.69 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 75
Converted using 2019-10-14 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 7, 2020

Disclosed by Bank Nov 5, 2019


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Project Description

According to EBRD website, the project aims to enable Sava to boost its capital base. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Pozavarovalnica Sava d.d. provides reinsurance products and services. The Company offers facultative and treaty reinsurance, and all lines of business with a preference for short-tail business. Pozavarovalnica Sava serves clients around the world.

Contact Information

Bla Garbajs
subordinated@sava-re.si
+386 1 4750 252
https://www.sava-re.si/
Pozavarovalnica Sava, d.d., Dunajska 56, 1001 Ljubljana, Slovenia

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.