Bosnia and Herzegovina: Financial Sector Assessment Program

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

August 3, 2015

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Bosnia and Herzegovina: Financial Sector Assessment Program - Insurance Sector—Technical Note, (USA: International Monetary Fund, 2015) accessed November 21, 2024

Summary

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.

Subject: Auditing, Financial institutions, Financial sector policy and analysis, Insurance, Insurance companies, Internal audit, Public financial management (PFM), Solvency

Keywords: Auditing, Business plan, CR, Global, Holding company, Insurance, Insurance companies, Insurance premium, Internal audit, ISCR, Joint stock, Liability insurance, Life insurance, Life insurer, Line of business, Nonlife insurance product, Nonlife insurer, RS-ISA resource, Solvency, Standard and Poor's, Terms and conditions, Unearned premium

Publication Details

Pages:

108
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/215
Stock No:

1BIHEA2015005
ISBN:

9781513566405
ISSN:

1934-7685

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