Bosnia and Herzegovina: Financial Sector Assessment Program - Insurance Sector—Technical Note

International Monetary Fund

No 2015/215, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Note discusses key findings and recommendations of the assessment on the Insurance Sector for Bosnia and Herzegovina (BiH). It is observed that 10 insurance companies, accounting for 40 percent of the nonlife market, have low solvency margins and may require supervisory action in the near future. Motor Third Party Liability insurance remains under pressure as market participants are not always compliant with the statutory tariff. It is expected that the Insurance Agency of Bosnia and Herzegovina will enhance the harmonization of entity-level regulations within BiH as well as with the European Union insurance directives.

Keywords: ISCR; CR; insurance premium; holding company; life insurance; line of business; joint stock; terms and conditions; liability insurance; unearned premium; life insurer; nonlife insurer; RS-ISA resource; nonlife insurance product; Standard and Poor's; business plan; Insurance companies; Insurance; Internal audit; Auditing; Solvency; Global (search for similar items in EconPapers)
Pages: 108
Date: 2015-08-03
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