Uticaj primene direktive Evropske Unije "Solventnost II" na sektor osiguranja u Srbiji

Abstract

According to many surveys conducted by global audit firms, it was found that many companies operating in the insurance sector in the EU are not fully prepared to meet the EU Solvency II requirements. The fact that the insurance sector in Serbia is at a much lower level of development then the insurance sector in the EU, leads to the conclusion that the adoption of European legislation will implement the hard way, given the size and scope of operations of domestic insurance companies, as well as the unwillingness of insurance supervision in the adoption new ways of working. Given that the assets and liabilities will measure according to market principles, and that the market will be reflected in the balance sheet, meeting the requirements of Solvency II regulation requires a longer period of time, and the larger amount of money, witch the majority of companies in Serbia is not ready to pay. As a result of the adoption of European legislation Solvency II complete reorganization of the insurance sector in Serbia is expected, and that reorganisation is not enough or evenat all tested in this way. In this paper has been conducted detailed research, which included and analyzed the impact of the adoption of the Solvency II regulations on the operations of individual insurance companies doing business in Serbia, on the structure of the insurance sector in Serbia, as well as the efficiency and effectiveness of the implementation of insurance supervision. The aim of this paper is to highlight the possible level of performance of the insurance sector in Serbia in the adoption of European legislation, and the implications that this regime may have on the state of the financial sector and the economy of Serbia, bearing in mind the fact that insurance companies are institutional investors in the financial market.