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Survey Of The Readiness Of Insurance Companies In Serbia For Solvency Ii

Author

Listed:
  • Mirjana Ilić
  • Veselin Avdalović
  • Milica Obadović

Abstract

The main objective of this paper is to analyse the readiness of the largest insurance companies operating in Serbia to implement the upcoming Solvency II regulation. The survey was conducted in 2014 using a questionnaire comprising 30 questions. It was sent to the seven biggest companies operating in Serbia during the research, which cover 80% of the market. The questionnaire covered both the organizational and technical profile of the insurance companies. The survey helped to understand the benefits and problems for the domestic insurance market that would result from the introduction of the Solvency II regime and the adjustment of current legislation to the European standard, and whether the insurance sector in Serbia will manage to overcome the obstacles and adopt the policies and procedures prescribed by Solvency II when required. Adopting the European Solvency II regulation means a complete reorganization of the insurance sector in Serbia, which has not been sufficie

Suggested Citation

  • Mirjana Ilić & Veselin Avdalović & Milica Obadović, 2017. "Survey Of The Readiness Of Insurance Companies In Serbia For Solvency Ii," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 62(215), pages 169-204, October –.
    • Handle: RePEc:beo:journl:v:62:y:2017:i:215:p:169-204
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    References listed on IDEAS

    as
    1. Anton van Rossum, 2005. "Regulation and Insurance Economics," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 30(1), pages 43-46, January.
    2. International Monetary Fund, 2011. "Possible Unintended Consequences of Basel III and Solvency II," IMF Working Papers 2011/187, International Monetary Fund.
    3. Rayna Stoyanova & Helmut Gründl, 2014. "Solvency II: A Driver for Mergers and Acquisitions?," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 39(3), pages 417-439, July.
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    More about this item

    Keywords

    Solvency II; Insurance; Regulations; Serbia;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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