Regulatory Alerts2020-01-01
Regulation on the Conditions for Performing Key Functions in an Insurance/Reinsurance Company – Unofficial Consolidated Text (NN, No. 68/19, 15/20)
The Croatian Financial Services Supervisory Agency (Hanfa) issued this Regulation to specify the knowledge, experience, suitability, and integrity conditions that holders of key functions in insurance and reinsurance companies must meet upon appointment and throughout their tenure. It mandates that companies verify compliance before appointment, dismiss holders when conditions cease to exist, and maintain verifiable written documentation aligned with Solvency II and EIOPA governance guidelines. The consolidated text supersedes the 2016 regulation and establishes detailed criteria for assessing criminal records, financial stability, professional conduct, and shareholding thresholds to ensure robust corporate governance.
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