13/09/2012

Pristina, September 13, 2012
In order to increase cooperation in the field of supervision of insurance companies, the Governor Gani Gërguri and Director Sergej SimonitI have signed a Memorandum of Understanding between the Central Bank of the Republic of Kosovo and the Slovenian Insurance Supervision Agency. 
General framework of this Agreement is based on the Insurance Core Principles for Effective Insurance Supervision approved by the International Association of Insurance Supervisors. 
This Agreement, mainly addresses the issue of information exchange between the two regulators focused on reciprocal cooperation in the field of licensing of insurance companies, their auditing and examination as well as information on legal and regulatory changes in both countries. Special emphasis is given to cooperation in the field of continuous supervision and remedial measures for the insurance companies in order to ensure ongoing sustainability and stability of insurance companies. The signatory parties agreed to hold regular meetings regarding prudential insurance supervision in both countries, and to review their regulatory and supervision systems development on annual basis. 
Currently there are two insurance companies from Slovenia operating in Kosovo market - "Illyria" ltd and "Illyria Life" ltd.