The press release of the Association National Bureau of Montenegro Insurers

Podgorica, 12th June 2018

Solvency II Conference

In Hotel “Hilton” another education conference has been held organized by Association National Bureau of Montenegro Insurers (NBOCG) in cooperation with UK broker GUY Carpenter, “Solvency II – current experience of the insurance market”. The representatives of life insurers, Supervisory Agency and Chamber of Commerce participated in this conference apart from NBOCG and its Members.

Following the opening by executive manager of NBOCG Boris Šaban, “The Reinsurance Market in Central and Eastern Europe (CEE)”, the floor was given to Mario Baotić, manager of Guy Carpenter for Central and Eastern Europe.

During the second part of the Conference Paweł Koszorek, head of analytics in Gay Carpenter CEE from Warsaw, has elaborated basic principles of Solvency II, methods and specifics of its implementation and explained differences of the concept of Solvency I and Solvency II. The discussion was also held on effects of implementation of Solvency II to the evaluation of assets and obligations. Finally, the structure of the concept trough its three pillars was also clarified.

Bearing in mind that Solvency II is implemented in EU countries as of 1st January 2016 and our Insurance Companies have actually started to prepare for it with their mother companies in EU, the education conferences on Solvency II are of significant importance to the whole Montenegro insurance market.