Insurance and reinsurance corporations and other entities that have been authorised by the Agency to perform insurance operations in the Republic of Slovenia are subject to the Solvency II regime.
In addition to the insurance companies with a registered office in an EU or EEA member state that are authorised to directly perform insurance operations in the Republic of Slovenia, insurance companies from the EU member states also have six branches operating in Slovenia. In addition, the insurance companies with a registered office in an EU member state that notified the Insurance Supervision Agency, by way of a letter, of their intention to provide the services for which they were granted authorisation by their own central supervisory authority also operate in Slovenia.
Pension companies exclusively perform voluntary supplementary pension insurance operations, as the law does not allow them to perform operations in relation to other insurance business.
The Agency also supervises the First Pension Fund of the Republic of Slovenia, managed by Modra zavarovalnica, d.d. The First Pension Fund is a special form of pension fund that was established pursuant to the First Pension Fund of the Republic of Slovenia and the Transformation of Authorised Investment Companies Act (ZPSPID).
In accordance with the Pension and Disability Insurance Act the Agency is responsible for supervising the payment of pension annuities and occupational pensions. Since 2013 it has thus also supervised the Covering Fund of the Compulsory Supplementary Pension Insurance Fund managed by Kapitalska družba, d.d.
The Insurance Supervision Agency is responsible for granting authorisation for the performance of insurance agency and brokerage services.
