SARAJEVO, Bosnia (October 11,2007) – Representatives of the The European Commission (EC) Delegation to Bosnia donated yesterday in Sarajevo technical equipment to the Bosnian State Insurance Agency, worth about 150.000 Bosnian Marks.
The European Commission (formally the Commission of the European Communities) is the executive branch of the European Union. It operates in the method of cabinet government, with 27 "Commissioners", one for each country of the EU, led by a Commission President (currently José Manuel Barroso).
The Bosnian Insurance Agency Director Samir Omerhodzic thanked for the donation and added that the EC has earlier supported the insurance sector in BiH in various projects and that it has focused in the past few years on the reform processes in the sector.
"A project worth 250.000 EUR will end by the end of 2008 and another project, worth 800.000 Euros will ne implemented as well”, Omerhodzic said.
Bosnian insurance sector has been developing well. That was also confirmed yesterday at a publication presented which is related to the unified insurance market in Bosnia in 2008.
The data shows that the total insurance premium in late 2006 in Bosnia was 360,595,021 Bosnian Marks (184,462,911 EUR) that is, 7,9 per cent higher compared to 2005.
One of the Agency’s priorities is alignment of the entity regulations in the insurance sector, for it has often been the case that an insurance company is registered in only one Bosnia's entity and hence cannot work in another.
Thursday, October 11, 2007
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