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AFSA and ISA agree on a joint work plan

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TIRANA, July 14/ATA/- Albanian Financial Supervisory Authority (AFSA) organized a joint working meeting with senior representatives of the Macedonian Insurance Supervisory Agency (ISA

The meeting aimed at further promotion of cooperation between the institutions for an effective and dynamic supervision of the insurance market in the two countries.

During the meeting, the participants provided several indicators of the results of the Albanian insurance companies operating in the Macedonian market. Likewise, it was discussed on the potential risks while AFSA is carrying inspections in the insurance market.

Director-General of the AFSA Ervin Koçi highlighted the importance of strengthening cooperation among the two regulatory bodies and other supervisors in the region on the insurance market. Koçi also emphasized that the insurance market has had positive developments in Albania over the recent years.

Further on, Koçi emphasized that the supervisory authorities in the two countries will begin to consider achieving a greater harmony of the supervision mechanisms of the groups in compliance with the Basic Supervision Guidelines and international practice and develop a mutual understanding on implementation of the international standards.

Klime Poposki, the President of the Council of experts of the Insurance Supervision Agency, appreciated important the cooperation between the two institutions of insurance supervision. He emphasized that the two institutions, in the quality of two regulatory bodies in the two countries, are facing the same supervision challenges.

The two sides agreed to draft a common working plan to promote further the bilateral cooperation. The two sides adhere also to an agreement of cooperation they have signed since 2010./a.gjonaj//a.ke/p.s./

 

 

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