Life and non-life insurance
The Life and Non-life Insurance Division of the Financial Supervisory Authority (FIN-FSA) is part of the Department of Insurance Supervision, which 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.
We supervise life and non-life insurance companies’ internal governance and risk management procedures. We assess underwriting risks, such as the calculation and adequacy of technical provisions, as well as investment risks.
In addition, we supervise the accuracy of financial statement data of supervised entities in the insurance sector in terms of profitability and solvency. We participate in international cooperation, including within colleges of supervisors, in our own field of competence.
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Financial Supervisory Authority to conduct stress tests for insurance and pension sectors
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Financial Supervisory Authority will focus in 2024 on risk resilience of supervised entities in a changing operating environment and on soundness of governance
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Financial Supervisory Authority calls for enhanced monitoring of disruptions and abnormal observations
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FIN-FSA invites comments on regulations and guidelines on customer due diligence related to compliance with sanctions regulation and freezing orders – consultation closes on 22 September 2023
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Thematic review of reports by life insurance undertakings’ actuarial functions in 2021 – better reports to support the board of directors’ work
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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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Report on anti-money laundering and its implementation in Europe emphasises need for sufficient supervision resources and importance of international cooperation
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Recording and presentation of the FIN-FSA’s reporting webinar have been published | National reporting (Virati)
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Data collections have been added to the Reporter portal of the new Financial Supervisory Authority Reporting System | National reporting (Virati)
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Invitation to Reporting Webinar | National reporting (Virati)
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Data collections have been added to the Validation service of the new Financial Supervisory Authority Reporting System | 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)
Statistics on life insurance companies
Statistics on non-life insurance companies