Abstract
If we assume that the key determination of each insurance company is in increasing the competitiveness of the offer of insurance services, growth in the market share and making a profit, the question is how and by what methods these pretty often opposite goals are possible to achieve in the most efficient way. In addition to the traditional approach of increasing the insurance portfolio, and consequently the total insurance funds, the basic condition for enhancing the positioning of insurance companies in the insurance market is a quality risk managing, with which every insurance company faces in its business. The growing internationalization and the concentration of the insurance business, the emergence of new risks, as well as the need for an integral comprehension of all risks with which insurers face in their business, have led to the definition of a new project for regulation of the solvency of insurance and reinsurance companies at EU level - Solvency II. Just because of this, the subject of this study is a field of risk management in insurance companies, with emphasis on the role and importance of the new regime for regulation. The subject is insufficiently present in scientific research circles and it is imperative of the present time, in order to readily go to meet changes and wait for the mandatory implementation in the time ahead of us. It will be pointed to the basic shortcomings of the previous model, better known as Solvency I, and introduced a new system of measuring solvency, based on risk. The unique rules will also be determined for measuring solvency of insurance companies which encourage insurers to implement risk management activities and develop their own models for risk quantification. The essence of the new model, better known as Solvency II, is a comprehensive analysis of all risks that the insurer meets, and not just those who are assumed to be insured.
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