Fakultet poslovne ekonomije Bijelјina, Bosna i Hercegovina
Bosnia and Herzegovina


Many of the challenges, the growing risks and changes in the business environment which are faced with the insurance companies in recent years, put in the focus of attention, both shareholders and the insured, and the state and its supervisory body, capital and solvency of insurers in relation to the commitments. One of the basic principles of the insurance companies is to ensure solvency. The first aspects of the regulation of the solvency of insurance companies in the European Union date back to 1973, when it adopted the first Directive on non-life insurance (First Council Directive 73/239 / EEC), and since 1979, when it adopted the first Directive on life assurance ( First Council Directive 79/267 / EEC). The insurance companies are required to provide a sufficient amount of capital to be able to cope with the uncertainty arising from the insurance industry. Consideration of possibilities for development and improvement of the control system for financial services for the first time more intensively raised in the banking sector through systems of Basel I and Basel II. These systems were limited to the supervision of banks, but their impact was greater and significantly initiated a similar initiative in the insurance sector. Thus, the issue of development control in the insurance was also discussed throught two European projects that are reminiscent of the evolution of the functions of supervision in the banking sector - Solvency I and Solvency II.

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