Representatives of the Insurance Agency of Republika Srpska participated in the Eastern Cooperation Conference, organized by the European Insurance and Occupational Pensions Authority (EIOPA), held on March 22, 2023. in the headquarters of EIOPA.

The conference, chaired by EIOPA president Petra Hielkema, was intended for supervisors of the insurance sector outside the European Economic Area (EEA), and representatives of 10 supervisors of the insurance sector from the countries of the European Union participated in the work of the Conference, as well as representatives of the International monetary fund, the World Bank, the European Commission and others. In the first part of the Conference, a Tour de Table was held with the aim of providing an overview of the competences of the present supervisors and the insurance market under their supervision, and representatives of the Insurance Agency presented the insurance market of Republika Srpska and the competences of the Agency. In the continuation of the conference, through panels and a round table, a discussion was held on the challenges of transitioning national regulatory frameworks for the insurance sector to a regulatory and supervisory framework based on risks, primarily on Solvency II, as well as on challenges related to current macroeconomic trends with a special emphasis on inflationary impacts, and about new risks in the insurance sector, including the key problems of supervisors in the region. It was pointed out the importance of mutual cooperation between supervisors, but also the exchange of experiences in order to develop supervisory capacities for the implementation of future regulatory requirements.

You can see more about the Conference at Eastern Cooperation Conference: Fostering risk-based supervision (europa.eu)