The Central Bank of the Republic of Kosovo’s Governor Ahmet Ismaili, speaking at an insurance conference, outlined the central bank’s ongoing work to further develop Kosovo’s insurance sector, including supervisory and regulatory reforms aimed at strengthening sustainability, transparency and competitiveness. He pointed to recent sector performance indicators, including annual growth of 10% in assets, 14.7% in premiums and 7.8% in paid claims, with a combined ratio of 91.6% described as within legal and regulatory limits. The central bank has been transitioning from compliance-based supervision to a risk-based approach aligned with international best practice, supported by the International Monetary Fund. Ongoing reforms include implementation of International Financial Reporting Standard 17 (IFRS 17) and preparatory work for the gradual adoption of Solvency II under a medium-term plan, alongside further rulemaking on insurance provision and intermediation, transparency, financial education and consumer protection. The governor also highlighted priorities to digitise services, expand voluntary insurance products and support Kosovo’s efforts to join the Green Card system for cross-border motor insurance.
Central Bank of the Republic of Kosovo 2025-09-17
Central Bank of the Republic of Kosovo governor sets out insurance reforms including IFRS 17 implementation and preparation for Solvency II
Governor Ahmet Ismaili of the Central Bank of Kosovo outlined reforms to enhance the insurance sector's sustainability, transparency, and competitiveness, including risk-based supervision and IFRS 17 adoption. Sector indicators show 10% asset growth, 14.7% premium growth, and 7.8% in paid claims, with a 91.6% combined ratio. The central bank is preparing for Solvency II, prioritizing digitization, voluntary insurance expansion, and joining the Green Card system for cross-border motor insurance.