The Council of Ministers of Bosnia and Herzegovina shall appoint the Chairman of the Management Board and two more Board members, one being a representative of the Ministry of Finance and Treasury of Bosnia and Herzegovina and the other a representative from the insurance industry.

The Entity Ministries of Finance shall suggest two members each, one from the Entity Ministry of Finance and one from the insurance industry.

The Management Board of the Agency is responsible for drafting Entity-level laws and other legislative documents; drafting amendments and changes to the existing insurance legislation; approving drafts of the laws and other legislative documents submitted by one of both Entities.

In case of any litigation or a need to provide guidelines or interpretation of regulations to or between the Entity and the District of Brčko insurance supervisory agencies regarding the reconciliation of the supervisory authorities between the Entities and the District of Brčko, each of the agencies may submit a request or inquiry to the Management Board of the Agency. Such requests and inquiries should contain the nature of the problem and should relate to supervision of insurance business activities between the Entities and the District of Brčko, or the Entities, the District of Brčko and foreign countries, or regarding the supervision of the free flow of insurance services on the territory of Bosnia and Herzegovina.

The Management Board of the Insurance Agency of Bosnia and Herzegovina was appointed on 15.10.2025., Decision on the appointment of members of the Management Board of the Insurance Agency of Bosnia and Herzegovina („Official Gazette of BiH, number: 67/25)

Members of the Board of Directors of AZOBiH are:
Chairwoman: Vedrana Vuković Perduv
Member: Igor Bevanda
Member: Emir Osmanbašić
Member: Snježana Rudić
Member: Jasmin Rustemi
Member: Draženka Janjanin
Member: Ivan Luburić

The agency is managed by the Director of the Agency. The Governing Board of the Agency elects the Director of the Agency, in accordance with the Law on civil Services in the Institutions of Bosnia and Herzegovina, and the Council of Ministers of Bosnia and Herzegovina makes the decision on the appointment.