Özet:

Abstract Nowadays banking and insurance have become more complex business and in purpose to limit or mitigate risks in banking and insurance sector, as well as to insure the soundness of financial institutions, supervisors used to employee various prudential approaches and rules. Since the supervisory resources are scarse and approach “one-size-fits-all” did not worked well, risk –based approach become more important. In recent article are analyzed international supervisory approaches for banks and insurance companies- BASEL III and SOLVENCY II, also existed prudential regulations in Georgia and compliance with international requirements. Article suggests that besides some obstacles it is nessesary for Georgian financial sector to expand and be more compliant with international standards, namely, financial institutions must have some capital buffers which could be used to cover losses during financial short come. Reforms should be done gradually and high attention must be paid to insurance sector.

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