According to the 2015 Insurance Act, non-EU/EEA insurance and reinsurance providers are subject to reciprocity for establishing a branch office for the purpose of providing insurance services in Croatia. The branch of a non-EU/EEA insurance undertaking may not simultaneously pursue both life and non-life insurance business in Croatia.
Additionally, under the 2014 Pension Insurance Companies Act, which regulates the establishment and operation of pension insurance companies in relation to the compulsory and voluntary pension insurance systems, a pension insurance company is required to be established as a joint stock company upon authorisation from the Croatian Financial Services Supervisory Agency and after meeting the requirements established in the law. The provision of compulsory pension insurance services is only permitted to companies meeting this requirement. A pension insurance company from another EU Member State, which establishes a branch in Croatia, is allowed to provide voluntary pension insurance services in relation to closed funds and support services to sponsors for the implementation of their closed voluntary pension fund.
"Article 66
(1) Any permanent presence of an undertaking in the territory of the Republic of Croatia shall be treated in the same way as a branch, even where that presence does not take the form of a branch, but consists merely of an office managed by the own staff of the undertaking or by a person who is independent but has permanent authority to act for the undertaking as an agency would.
(2) The insurance undertaking with head office in another Member State which intends to operate for the first time in the Republic of Croatia under the right of establishment shall first inform the competent supervisory authority and provide the nature of the risks or commitments it intends to cover and the following information: [...]
(4) The Agency shall systematically, or within two months of receiving the information referred to in paragraph 2 of this Article, inform the competent supervisory authorities of other Member States of the regulations to be followed by insurance undertakings which have head offices in those Member States, operate in the Republic of Croatia and whose compliance is subject to supervision by the Agency. [...]
(8) The insurance undertaking from another Member State may establish a branch in the territory of the Republic of Croatia and start business as from the date on which the competent supervisory authority receives the information referred to in paragraph 4 of this Article or, if it does not receive this information, within two months of receiving the documentation referred to in paragraph 2 of this Article.
[...]
Article 78
(1) A third-country insurance undertaking may pursue the insurance business in the Republic of Croatia only via a branch established in the Republic of Croatia and subject to prior authorisation from the Agency for pursuing the insurance business. [...]
(4) The Agency shall refuse the application for authorisation to set up a branch of a thirdcountry insurance undertaking if this would: [...]
2. taking account of the regulations of that country, prevent the insurance undertakings with head office in the Republic of Croatia from pursuing the insurance business in that country or from pursuing the insurance business under the same conditions under which they are pursued by the insurance undertakings from that country.
[...]
Article 82
A third-country insurance undertaking shall not simultaneously pursue the life and non-life insurance business through the same branch established in the Republic of Croatia.
Article 83
(1) A third-country reinsurance undertaking may pursue the reinsurance business in the territory of the Republic of Croatia under the right of establishment.
(2) The provisions of this Act concerning the third-country insurance undertaking which pursues the insurance business in the territory of the Republic of Croatia through its branch shall apply mutatis mutandis to a third-country reinsurance undertaking which pursues the reinsurance business.[...]" (Insurance Act (NN 30/2015; 11 March 2015), last amended by Law NN 63/2020 of 22 May 2020, Articles 66, 78, 82 and 83 [provisional consolidated translation including amendments up to Law NN 112/2018])
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"Article 5
(1) A pension insurance company shall be established and operate as a joint stock company with its registered office in the Republic of Croatia in accordance with the provisions of the law governing the establishment and operation of companies (hereinafter: the Company) and this Act.
[...]
Article 9
(1) The subject of the Company's business may be:
1. payment of pensions within the mandatory pension insurance in accordance with the Company's pension programs based on individual capitalized savings of a member of the mandatory pension fund
2. payment of pensions within the voluntary pension insurance in accordance with the Company's pension programs based on individual capitalized savings of a member of an open voluntary pension fund
3. payment of pensions within the voluntary pension insurance in accordance with the pension programs of the Company on the basis of individual capitalized savings of a member of a closed voluntary pension fund
4. payment of pensions based on direct one-time payments of persons to the Company
5. performing other tasks related to pension insurance activities with the prior approval or consent of the Agency.
(2) The tasks referred to in paragraph 1 of this Article may be performed in the Republic of Croatia only by:
1. A company that has received a work permit from the Agency
2. an institution for occupational pension insurance which has the right, in accordance with the provisions of this Act, directly or through a branch in the Republic of Croatia to perform the activities referred to in paragraph 1, item 3 of this Article
3. another legal entity that has obtained the approval of the Agency to perform the activities referred to in paragraph 1, items 2 and 3 of this Article on the basis of the law governing the establishment and operation of pension companies for the management of voluntary pension funds and voluntary pension funds.
4. a life insurance company that has a license or approval for the operation of the Agency may perform the activities referred to in paragraph 1, items 2 and 3 of this Article, in accordance with the provisions of the law governing the establishment and operation of life insurance companies. [...]" (Pension Insurance Companies Act (NN 22/2014; 12 February 2014), as last amended by Law NN 115/2018 of 13 December 2018, Articles 5 and 9 [google translation])
Insurance Act (NN 30/2015; 11 March 2015), last amended by Law NN 63/2020 of 22 May 2020, Articles 66, 78, 82 and 83
Pension Insurance Companies Act (NN 22/2014; 12 February 2014), as last amended by Law NN 115/2018 of 13 December 2018, Articles 5 and 9
[<a href="https://narodne-novine.nn.hr/clanci/sluzbeni/2015_03_30_611.html ">Act</a>],[<a href="https://www.hanfa.hr/media/4070/insurance-act-30_15-112_18-eng.pdf">Act_Eng</a>],[<a href="https://narodne-novine.nn.hr/clanci/sluzbeni/2014_02_22_399.html">Act</a>],[<a href="https://www.hanfa.hr/media/3121/zmod_procisceno_-nn-115_18.pdf">Act_consolidated</a>]