European integration offers not only strategic prospects but also poses serious challenges for the financial sector. To help the domestic insurance market adapt to these new realities, the National Association of Insurers of Ukraine hosted an expert meeting with Ksenija Milošević, Head of the Resolution Office at the Croatian Financial Services Supervisory Agency (HANFA).
The event was supported by the STEP IN 2 EU international cooperation program, implemented by the German federal enterprise Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
The event generated significant interest within the professional community, drawing over 100 participants to the online discussion. The audience and active discussants included representatives from leading insurance companies, the National Bank of Ukraine, as well as specialized higher education institutions and industry associations. We extend our sincere gratitude to Ksenija Milošević for her deep expertise and willingness to share practical insights, and to Jemma Furst, GIZ Ukraine Component Manager, for her continuous support of our initiatives. The high level of audience engagement underscores the market’s urgent need for this format of interaction. Therefore, we are pleased to announce that this event is just the first in a planned series of meetings dedicated to EU implementation.
In the Focus of Discussion: Unvarnished Real-World Experience
During the meeting, participants examined the Croatian case study of transitioning to the single European market. Ksenija Milošević spoke candidly about the transformation that local businesses had to undergo. The key topics included:
Macroeconomic shocks and competition: Discussing how the market responded to the opening of borders to European insurance giants and what occurred during the initial price wars.
Regulatory burden: The experience of adapting to stringent EU directives and the wave of mergers and acquisitions (M&A) that inevitably accompanies such processes.
Transformation of the MTPL market: A dedicated session explored the experience of mass insurance lines, detailing how European directives and open competition reshaped the landscape of the Motor Third Party Liability (MTPL) segment in Croatia.
Practical advice for local companies on how to retain their key corporate clients and safeguard qualified talent in an open market environment.
Croatia’s experience clearly demonstrates to Ukrainian insurers that preparation for European integration must begin today. Understanding others’ mistakes and successful solutions will help the domestic market develop effective adaptation strategies and enhance its competitiveness.
Background Information: The STEP IN 2 EU international cooperation program is co-funded by the governments of Germany and Norway, as well as the European Union under the EU4Business initiative, and is implemented by the German federal enterprise Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
The program aims to support Ukrainian state institutions in advancing the EU accession process under the economic chapters, as well as to create better economic conditions and financial opportunities for Ukrainian companies, enabling them to derive additional benefits from integration into the EU single market.
