The first day of the conference was opened by the director of the Agency for Insurance Supervision of the Federation of Bosnia and Herzegovina, Ivan LUBURIC with his presentation "Overview of the insurance market in FBiH - situation and perspectives".
"The insurance market in the Federation of Bosnia and Herzegovina records an increase in premiums and, being solid and stable, it responded well to the challenges of the previous three years. In the coming period, the insurance market in the Federation of Bosnia and Herzegovina is waiting for harmonization of regulations with the directives of the European Union, i.e. deregulation and liberalization of motor liability insurance, implementation of the International Financial Reporting Standard 17, and preparation for transformation and transition to the Solvency II. The focus of the Supervisory Agency will primarily be on the financial stability of the insurance industry in terms of capital adequacy and technical reserves, all with the aim of strengthening the insurance sector and qualitatively preparing for the upcoming challenges", said Ivan LUBURIC.