Last update:
17 September 2019 at 13:22 hours.
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In the period from April 11 - 12, in Bratislava, in the Slovak Republic, a conference on the synergy between life insurance and pension insurance was held, organized by the International Association of Insurance Supervisors (IAIS), the International Organization of Pension Supervisors (IOPS), the Organization for Pension and Disability Insurance (IOPS) Economic Cooperation and Development (OECD) and the National Bank of the Slovak Republic (NBS). The purpose of the event was to understand the importance of accumulating and managing assets and liabilities in a way that will provide support for the growth and security of retirement  incomes. The President of the Council of Experts, Mr. Klime Poposki participated with a presentation and as a participant he took part in a panel discussion where it was discussed about the  regulators' approach regarding the treatment of long-term financial products in insurance and pension funds together with the Assistant Secretary of State of the US Department of Labor Mr.Preston Rutledge, Mr. Conor Donaldson, Head of the Implementation Committee at the International Association of Insurance Supervisors, Professor Karel Van Hulle of the Catholic University of Leuven, Belgium and Honorary Professor at the Goethe University in Frankfurt and former Head of the European Commission of the Insurance Department and Ms. Manuela Zweimüller, Director of the Regulatory Department in the European Insurance and Occupational Pensions Authority (EIOPA).

bratislava

The panel discussion was mainly focused on similarities and differences between the regulatory treatment of long-term products in the insurance and pension sector, as well as the trends in insurance and pensions, identifying several common and fundamental challenges.

In addition, the President of the Council of Experts of the Insurance Supervision Agency Mr. Klime Poposki highlighted the positive results in the development of life insurance in the last decade, which have the highest cumulative growth of 455% and an average annual growth of 21% between the countries of Southeast Europe. "Effective, efficient and independent supervision that implements international regulatory principles in its operations anticipated by the International Association of Insurance Supervisors, compliance with European insurance directives, financial education activities, as well as favorable macroeconomic environment, monetary and financial stability and strong presence of insurance groups from the EU in our country, are key factors for the achieved results, " Mr. Poposki outlined in his presentation.

 

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