Second-largest local insurer Sava Montenegro decreased its share capital to EUR 4mn, the company said in a statement posted on the website of the stock exchange. The announcement fails to provide information regarding the size the capital cut, as it does not provides comparison figures for the amount of capital prior to the decline. The company's capital is divided in 19,402 shares with face value of EUR 207.88, following the capital cut. Slovenian Sava Insurance bought Sava Montenegro for EUR 15mn at end-2007. Sava Montenegro has a market share of 15% as of end-March, according to data from the Insurance Supervision Agency. Lovcen Osiguranje is the market leader, controlling almost half of the market. |
Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more
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Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more