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The insurance market participants which Národná banka Slovenska supervises comprise insurance undertakings, reinsurance undertakings, and branches of insurance and reinsurance undertakings from non-EU countries. The conduct of insurance business in Slovakia is governed principally by Act No 39/2015 Coll. on insurance (‘the Act’).

The purpose of insurance regulation is to protect policy holders and beneficiaries and at the same time to support market stability, through risk evaluation and efficient capital allocation.

The structure of insurance regulation is based on three pillars. Pillar 1 lays down capital requirements for insurance and reinsurance undertakings, taking account of the risks to which they are exposed (including underwriting, credit, market and operational risks). Pillar 2 sets out requirements for the governance and supervision of insurance and reinsurance undertakings. Pillar 3 focuses on reporting and disclosure requirements.

Under the freedom to provide services, i.e. to provide services on a cross-border basis, insurance and reinsurance undertakings established in another EU Member State may conduct (re)insurance business in Slovakia either through a branch or directly, without establishing a branch. Financial supervision of the activity of these undertakings is the responsibility of the home Member State.


Lists of the insurance and reinsurance undertakings which conduct business in Slovakia may be found here.