Insurance supervision
The insurance supervision of the Financial Supervisory Authority (FIN-FSA) has overall responsibility for prudential supervision of the insurance sector. The objective of supervision is to ensure that the entities have the financial means to fulfil their obligations, such as payment of insurance claims and pensions.
Insurance supervision supervises
- life and non-life insurance companies’ and pension institutions’
- solvency and financial position
- internal governance and risk management procedures
- underwriting risks, such as the calculation and adequacy of technical provisions
- investment risks
- unemployment funds’
- finances and solvency
- governance
- codes of conduct in customer relationships and application practices
Insurance supervision supervises the accuracy of financial statement data of supervised entities in the insurance sector from the standpoint of regulations and guidelines issued separately for the insurance sector. In addition, insurance supervision is responsible for international cooperation, such as EIOPA (European Insurance and Occupational Pensions Authority) work and college of supervisors cooperation, within its own field of competence.
We also supervise insurance providers’ compliance with agreed practices and consumer protection rules. See the Consumer protection site.
Financial Supervisory Authority's list of supervised entities
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Financial Supervisory Authority’s priorities in 2025 remain the soundness of supervised entities’ governance and responding to uncertainties in the operating environment – summaries of inspection results to be made available on website
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Results of the stress tests for European insurance companies have been published
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Amendment to Regulations and guidelines 1/2011 Submission of electronic supervisory data of entities operating in the insurance markets
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Regulations and guidelines of standard 1.5 on the supervision of financial and insurance conglomerates have been repealed
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Financial Supervisory Authority to conduct stress tests for insurance and pension sectors
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Financial sector's capital position as at 30 June 2024: Sluggish economic growth and geopolitical tensions have maintained the financial sector's risks at a high level – capital position has remained strong
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Subdued economic outlook is weakening the financial sector's operating environment – real estate market risks particularly increasing
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Public warning to Pohjola Insurance Ltd for non-compliance with time limits under Workers’ Compensation Act and provisions concerning system of governance
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Finnish financial sector has so far withstood the effects of the coronavirus pandemic well - operating environment remains uncertain, however
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Financial Supervisory Authority extends the validity of its profit distribution recommendation until 1 January 2021 and clarifies expectations related to capital and liquidity buffers
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The Validation service and Reporter portal will have service breaks on week 13 | EBA EIOPA ESMA National reporting (Virati)
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Recording and presentation of the FIN-FSA’s reporting webinar have been published | EBA EIOPA ESMA National reporting (Virati)
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Data collections have been added to the Validation service and Reporter portal of the new Financial Supervisory Authority Reporting System | National reporting (Virati)
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Invitation to Reporting Webinar | EBA EIOPA National reporting (Virati)
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Jakelu distribution service to be discontinued on 31 December 2024 | EBA EIOPA ESMA National Reporting (Virati)