CBK develops cooperation with supervisory authorities of EU countries in the field of actuarial assessments in insurance supervision

Within the framework of Phase II of the Program for Strengthening the Capacities of Central Banks in the Western Balkans with the Aim of Integration into the European System of Central Banks, the Central Bank of the Republic of Kosovo started implementing a bilateral measure with the Croatian Financial Services Supervisory Agency.

This bilateral measure will be focused on the assessment of actuarial supervision within the insurance supervision function at the CBK, and will include two expert missions of the Croatian Financial Services Supervisory Agency to the CBK, as well as a CBK professional staff study visit in this agency.

This bilateral measure will last until September of this year, and will include the sharing of information on the state and contemporary developments in the Croatian insurance market and the transfer of experiences of the Croatian insurance authority.

Like the other components of this phase of the program, this bilateral measure is administered and coordinated by the Central Bank of Germany (Deutsche Bundesbank).

CBK expects that through the component activities of this bilateral measure, it will contribute significantly to the development of its activity of actuarial supervision of insurers, adopting and aligning with the standards and practices of the supervisory authorities of the EU countries.

The development of the insurance supervision function remains a strategic orientation of the CBK for promoting and maintaining the stability of the financial system of the Republic of Kosovo.

Phase II of the Program for Strengthening the Capacity of Central Banks in the Western Balkans with the Aim of Integration into the European System of Central Banks was launched on September 21, 2022 and is expected to last three years.

This program is financed by the EU and includes the European Central Bank, 20 central banks of the EU countries, as well as 8 central banks and financial supervision authorities from the Western Balkans region.