The activities of the Insurance Agency of the Republic of Srpska on international identification as the only institution responsible for the supervision of insurance and voluntary pension insurance in the Republic of Srpska, and which is independent of any institution of BiH, resulted in the Agency’s admission to full membership in the International Association of Insurance Supervisors (hereinafter: IAIS) and the International Organization of Pension Supervisors (hereinafter: IOPS).

Regarding the admission to the membership of the international associations of insurance and voluntary pension insurance supervisors, the director of the Insurance Agency of the Republic of Srpska, Mrs. Janjanin, emphasizes the importance of membership in terms of identifying the institutions of the Republic of Srpska internationally, but also in the process of European integration. By becoming a member of IAIS and IOPS, the Agency got the opportunity, through its representatives, to participate in the work of highly specialized working groups and forums for the exchange of experiences and standards of current supervisory practice, which will enable timely acquisition of new knowledge about the possibility of overcoming potential risks to the stability of the insurance market, as well as voluntary pension insurance. Global challenges and risks arising from technological and digital innovations, climate risks, and requirements for sustainable development will certainly have an impact on the domestic insurance market to a certain extent, and it is expected that the adapted application of the relevant standards and guidelines issued by IAIS and IOPS will enable adequate regulatory action in order to preserve the stability of the insurance market in the Republic of Srpska.