Regulatory Alerts2021-07-07
Instructions for Insurance Companies Intending to Conduct Insurance Business in Another Member State on the Basis of Freedom of Establishment – FOE
The Croatian Financial Services Supervisory Agency (Hanfa) requires insurance companies exercising freedom of establishment in another EU Member State to submit a standardized English notification form, a bilingual business plan, and proof of regulatory fee payment. The framework mandates precise completion of fourteen specific data points covering branch structure, authorized representative details, Solvency II risk classifications, and cross-border group compliance. It establishes a fixed fee structure of HRK 6,500 for initial notifications and HRK 2,000 for business extensions, while enforcing a mandatory one-month waiting period for data modifications and permitting multi-state initial notifications under a single consolidated fee.
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