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Capital increases for the first two insurers in Montenegro

The end of 2010 brought with it important capital increase operations for the largest insurance companies in Montenegro (LOVCEN and SAVA MUNTENEGRU). Thus, at the end of December, the General Shareholders Meeting of LOVCEN Osiguranje decided a capital increase and issuing some new shares.

LOVCEN Osiguranje is currently worth EUR 10.53 million, the equivalent of 202.553 shares, with a nominal worth of EUR 52. The main shareholder is TRIGLAV Zavarovalnica International Group with 91.83%. According to its decision, 176.889 more share will be issued, marked series E, with a total worth of EUR 9.2 million.

The second biggest insurer in Montenegro is SAVA Osiguranje, a company that had in 2010 two capital increases, the value reaching EUR 4 million.

Article written with the support of Dejan GJORGJIJOVSKI, Correspondent, Macedonia

Author: Vlad BOLDIJAR on 20.01.2011

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