Certified actuary

Certified actuary confirms correctness of technical provisions calculation in insurance company with duly signed Opinion of the certified actuary with regards with regards to appropriate level of technical provisions.

Technical provisions can be divided into provisions for unearned premiums, provisions for bonuses and discounts, claim provisions, equalization reserves in companies having credit insurance business, other technical provisions, mathematical provisions for life insurance, special provisions for life insurance in which insured person takes investment risk.

Certified actuary’s opinions on the technical provisions calculation  are an integral part of the insurance company’s annual report.

Certified actuary is a person who has the authority of the supervisory body (Croatian Financial Services Supervisory Agency – HANFA) to perform activities of a certified actuary.

Certified actuary in a pension insurance company

The pension insurance company must have one independent actuary.

Actuary – membership in the Croatian Actuarial Association

Conditions for regular and associate membership are defined by the Statute of the Croatian Actuarial Association.