Austria’s Financial Market Authority FMA has agreed a Memorandum of Understanding (MoU) with the Macedonian Insurance Supervisory Authority. This MoU facilitates cross-border cooperation with this non-EU Member State, and establishes a new legal basis for such work. In view of the significant activities of Austrian insurance undertakings (Grawe Group and Vienna Insurance Group) in FYR Macedonia and the role of the FMA as supervisor of these groups, this development is of considerable importance to the Authority. With the introduction of the new European supervisory regime, Solvency II, bilateral cooperation will take on an additional importance. In signing this MoU, the FMA is further deepening its cooperation with its sister authorities in Central, Eastern and South-Eastern Europe.
For further information please contact
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-5106
+43/(0676)/882 49 516