The Croatian Financial Services Supervisory Agency published board decisions declaring its intention to comply with five sets of guidelines from the European Insurance and Occupational Pensions Authority. The board also granted five insurance distribution licenses, revoked 15 and approved a management board appointment at Generali Osiguranje. The guidelines address parameters specific to individual undertakings, the treatment of related undertakings including participations, and the exclusion of undertakings from group supervision. They also cover diversity in the selection of members of administrative, management or supervisory bodies and methods for determining market shares for reporting. The new distribution licenses cover insurance agency TILHOF, which is in formation, and four sole proprietors. The 15 license revocations also remove nine companies and six sole proprietors from the relevant registers. Mirna Lipovšćak was approved as a member of Generali Osiguranje’s management board for a term of four years, starting the day after receipt of the decision.
Croatian Financial Services Supervisory Agency declares intent to comply with five EIOPA guidelines and revokes 15 insurance distribution licenses
The Croatian Financial Services Supervisory Agency declared its intention to follow five sets of European Insurance and Occupational Pensions Authority guidelines covering insurance supervision, governance and market share reporting. Its board granted five insurance distribution licenses and revoked 15, removing nine companies and six sole proprietors from the relevant registers. It also approved Mirna Lipovšćak for a term of four years on Generali Osiguranje’s management board.