The Parliament adopted in the final reading the draft law on insurance and reinsurance activity

During plenary session, held on April 7 current year, the Parliament voted in the second reading the draft Law on Insurance and Reinsurance Activity.

National Commission for Financial Markets drafted the document with the technical assistance of World Bank experts as part of the "Insurance Market Reform in Moldova" project, which aims to partially transpose the Directive 2009/138 / EC of the European Parliament and of the Council of 25.11.2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II).

The main purpose of the draft law is to strengthen the insurance sector and to prepare the market for Solvency II, as well as to ensure the implementation by insurance companies of internal governance and risk management requirements.

The Parliament approved the draft law in the first reading at its plenary session of December 4, 2020.

NCFM and non-bank financial market participants organized several activities during the “Global Money Week” event

Insurance companies benefited from training on Solvency II and IFRS 17 implementation, organized by NCFM with USAID and AAM support