Insurance companies are financial institutions that provide insurance for the paid insurance premium in the possibility of a certain event defined by the insurance contract. Insurance companies are also institutional investors that interfere between cash surplus and cash deficit units and participate in financial markets by investing funds from technical provisions. The investments of the insurance company are an important factor in their business because they generate income by investing to meet the claims of policyholders in the event of a harmful event and equally participate in the financial market, enabling contribution to market development. The purpose of this master thesis is to present the impact of regulatory and legal changes that marked the past period on the investments of insurance companies in the Republic of Croatia. In addition to the purpose of this master thesis, additional objectives are: to determine the development of insurance companies in the Republic of Croatia in relation to the European Union, to identify the impact of market factors on investment values and investment products and to display selected insurance companies and their investment value The methodology used in this paper are various scientific methods: inductions and deductions, analyzes, compilations, descriptions, graphical and tabular presentation of data. Insurance companies have been marked by changes in regulatory and legal changes and the impact of market developments on their overall operations and investments. Insurers' investments recorded a continuous growth on an annual basis and were influenced by market factors, primarily periods of low interest rates. The impact of market factors and regulatory changes are noticed in the change in the share of financial assets within the investment structure. However, insurers' investments affected by regulatory changes do not show significant