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.
Regulations and guidelines 8/2014 Management of operational risk in supervised entities of the financial sector updated
Financial Supervisory Authority permits temporary exemptions for implementation of strong customer authentication in online card payments
EIOPA launches two consultations: outsourcing to cloud service providers and Solvency II supervisory reporting and public disclosure
EBA published a consultation on 27 June on its technical standards related to market risk as well as a data collection and roadmap to upcoming regulation
Providing equity savings accounts and equity savings account agreements to customers
Financial Supervisory Authority: Pension insurance companies must remain within their field of business
Financial position and risks of supervised entities as at 30 June 2019: Weaker economic cycle weighs on the Finnish banking and insurance sector
Report on anti-money laundering and its implementation in Europe emphasises need for sufficient supervision resources and importance of international cooperation
Financial sector’s capital position as at 31 March 2019: Finnish financial sector’s capital position remained good
Financial Supervisory Authority strengthens anti-money laundering supervision – European supervision will also be enhanced
Updated workbooks and instructions for the RA data collection published | National reporting (Virati)
New FIN-FSA Reporting Application workbooks for Pension Fund downloadable from the Jakelu Distribution Service | EIOPA
Demo version of FIN-FSA Reporting Application published in Jakelu distribution service | EBA EIOPA ESMA
EIOPA has released Solvency II Taxonomy version 2.4.0 for life and non-life insurance companies | EIOPA
Invitation to a webinar on reporting