Tag Archive | "insurance industry"

Albanian Accounting Trends in Accordance With EU Standards

A lot of work has gone to standardize the financial accounts of insurance and requirements of reimbursement ability. These projects are made by various international organizations. This will alter the way the insurance companies keep their accounts and how they design strategies. All this work in accounting is being done to increase transparency and provide the most realistic accounts of insurance. This is an indirect form to protect the policyholders. Even the regulation on repayment ability is a method of protecting policyholders. Accounting is the process of collecting and reporting financial information about entity or about a group of units. Accounting practices are developed over time and they reflect the traditional national accounts. With the development of EU and increased activity of insurance companies or other companies outside the national borders, finding of a common way to present financial data of companies is becoming more critical. In connection with commercial enterprises, accounting information users include managers, investors, potential investors, lenders, investment analysts, regulators and consumers. The accounting changes outlined here, will be mandatory for insurance companies listed on stock exchange. However it is expected that other companies will adopt these rules as they aim to clearly present the true situation of the company, critical for managing a company.

  Albanian Accounting Trends in Accordance With EU Standards (761.1 KiB, 1,930 hits)

Posted in Economics, Volume II, Issue no. 5

Solvency II an opportunity or challenge for insurance industry in Kosovo

The purpose of this assignment is to provide a research that will be used further during the dissertation. The research is focused at benefits of the Solvency II and possibilities that would follow its implementation in the insurance industry in Kosovo.

This assignment will briefly explain how it is can be applied on to the Solvency I regime that exists in the insurance industry in Kosovo and potential for the insurance industry of Kosovo when Solvency II is implemented. For both of these methods of the Solvency I and II we tried to offer proper solutions.

For this research we prepared a questionnaire for the top managers of the insurance companies and experts in this field. The questions focused on their perspective of the implementations of Solvency II on the insurance industry in Kosovo. We also have interviewed the director of insurance supervision at the Central Bank of Kosovo (CBK). The responses to the questionnaire are summarized in the following part of this research.

  Solvency II an opportunity or challenge for insurance industry in Kosovo (663.7 KiB, 3,230 hits)

Posted in Economics, Issue no. 7