Regulatory Alerts2016-01-01
Regulation on the Content of Applications for Approval to Transfer or Assume Insurance Portfolios by Insurance or Reinsurance Companies (NN, No. 7/16, 91/16)
The Croatian Financial Services Supervisory Agency (Agencija) issued this Regulation to define the exact content and supporting documentation required for applications seeking approval to transfer or assume insurance portfolios. It requires domestic, cross-border, and third-country entities to obtain prior Agency consent by submitting standardized contracts, business plans, solvency capital proofs, and fee receipts, while specifying detailed portfolio scope declarations. Additionally, the Regulation standardizes electronic submission protocols, mandates certified translations for foreign-language documents, and establishes technical fallback procedures to ensure continuous regulatory oversight of portfolio transfers.
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