The Insurance Agency was established by the Law on Insurance Companies in 2006 as an
indepentendent and nonprofit institution of the Republic of Srpska in the capacity of the
legal entity and with the head office in Banja Luka which answers to the National Aseembly of the Republic of Srpska.
The Insurance Agency of the Republic of Srpska has regulatory and supervisory function
in the aim of protecting entities that have the right on insurance coverage and compensation
from the insurance as well as the benefit of the insurance industry.