The Agency for Regulation and Development of the Financial Market has developed Key priorities for Supervisory Policy in the Insurance Sector for 2026 to ensure effectiveness of the supervisory process and increase transparency and predictability of regulator actions.

According to the Agency, together with the National Bank it will prepare an Insurance Market Development Program until 2030 and draft a new Law on Insurance Activities.

The Program's main goal is to strengthen the insurance sector's contribution to the development of the national economy, particularly in areas where the state currently bears a significant portion of risks and financial obligations. Key priorities include expanding compulsory insurance, improving insurance market infrastructure, digital transformation of the insurance industry, developing accumulative and investment insurance, simplifying licensing procedures, and aligning legislation with international practice, including Solvency II.

To improve the insurance sector supervision system and align it with international standards, the Agency will work to implement a new integrated supervisory model based on the Insurance Core Principles (of the International Association of Insurance Supervisors), the requirements of the Solvency II Directive, and IFRS 17.

As part of the existing Supervisory Risk Evaluation System (SRES), an annual risk assessment of insurance companies' activities will be conducted, considering consumer complaints, according to the press release.