Regulatory Alerts2025-01-01
Insurance Act – Unofficial Consolidated Text (Official Gazette Nos. 30/15, 112/18, 63/20, 133/20, 151/22, 152/24, 151/25)
The Croatian Financial Services Agency issued this consolidated Insurance Act, which transposes and implements key European Union directives and regulations—including Solvency II, the Insurance Distribution Directive, and digital operational resilience rules—into national legislation. The Act establishes comprehensive conditions for the establishment, operation, supervision, and cessation of insurance and reinsurance undertakings, mutual societies, and distribution entities, while granting the Agency explicit authority to enforce EU guidelines, monitor qualified holdings, regulate intra-group transactions, and protect consumers. It further standardizes cross-border operations for entities from other EU Member States and third countries, including Switzerland, by defining precise reporting obligations to EIOPA and the European Commission alongside targeted penalty provisions.