Croatian Financial Services Supervisory Agency highlights rising operational and digital risks for insurers at Croatian Insurance Days

The Croatian Financial Services Supervisory Agency published remarks by its board president, Ante Žigman, from the Croatian Insurance Days conference in Opatija, where he said the main risk profile for insurers is shifting from purely financial exposures toward operational and digital vulnerabilities. He linked this change to geopolitical and market shocks that are feeding through into energy prices, inflation, financial market volatility and insurers’ balance sheets, while cyberattacks are becoming an increasingly important channel for geopolitical disruption. Žigman described the Croatian insurance market as structurally stable and relatively predictable, with around EUR 2.1 billion in premiums and a dominant non-life segment led by motor insurance. He said current geopolitical risks are affecting insurers chiefly through inflation, higher energy costs, rising claims costs and pressure on investment values and capital positions. His comments also stressed that stability now depends not only on capital strength but on operational and digital resilience, including ICT risk management, oversight of third parties and preparedness for crisis scenarios. Conference discussions also covered AI in digitalisation and claims assessment, policyholder behaviour under inflation, pension adequacy and new types of risks and claims.