The Slovenia Insurance Supervision Agency reported on a visit by European Commission financial services commissioner Marie Luís Albuquerque, focused on current challenges in insurance and the wider financial sector and on priorities under the Savings and Investments Strategy. Discussions covered Slovenia’s protection gap for natural catastrophes, where the earthquake insurance gap is estimated at around 80%. AZN presented solutions developed by a working group, including a proposal for mandatory insurance for multi-storey buildings that would halve the earthquake gap, alongside the challenge of communicating the measure so it is not perceived as a new tax. AZN also highlighted the need to simplify regulatory reporting, particularly for smaller insurers and new market entrants, and stressed proportionality. Pension reform issues, especially the second pillar, were raised in the context of late household saving and low annuities, with financial education identified as critical. The meeting also addressed supervisory convergence through AZN’s engagement in EIOPA and the International Association of Insurance Supervisors, and implementation challenges in ESG reporting given the pace of changes and compliance burden. Albuquerque indicated that the European Commission will present a pensions measures package by November with guidance for countries on developing the second pillar, and that a financial literacy strategy will be presented shortly.

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