Life insurance

FIN-FSA publishes supervisory information on the operations of life insurance companies. This directory contains data on financial statements, solvency and profitability. Data on investments are available in the directory Investments.

The figures include Finnish insurance companies’ foreign insurance business. Operations of foreign insurance companies in Finland are excluded. These data are available in the Foreign life insurance companies section below.

Data on financial statements and profitability is based on data submitted by companies to the FIN-FSA and prepared in accordance with the Finnish financial statement provisions. As of 1 January 2016, solvency data is based on data prepared in accordance with Solvency II regulation. Solvency data and notes on solvency margin for 2015 and earlier years are based on national legislation.

Data published quarterly:

  • Solvency data
  • Profitability data
  • Investment data

Financial statement data published annually:

  • Income statement
  • Balance sheet
  • Notes on income statement, balance sheet and solvency margin (until 31 December 2015)

The list of insurance companies in tables and insurance classes (pdf)

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Premiums written and claims paid in respect of domestic direct insurance

The statistics on domestic direct insurance premiums written and claims paid are based on quarterly data on direct insurance business volumes reported by Finnish life insurance companies. The data are presented broken down by insurance class.

Profitability of life insurance

Life insurance companies’ profitability indicators are calculated of the quarterly data of domestic life insurance companies.
The indicators are calculated on a cumulative basis from the beginning of the year until the end of the review period, and the calculation is made in accordance with the Regulations and guidelines of the Financial Supervisory Authority on the preparation of life insurance companies’ accounts and financial statements. The quarterly interim data are unaudited. 

Solvency of life insurance

Life insurance companies’ solvency indicators are calculated of the quarterly data of domestic life insurance companies.

The calculations are made in accordance with the Regulations and guidelines of the Financial Supervisory Authority on the preparation of life insurance companies’ and financial statements. The quarterly interim data are unaudited.As of 2016, solvency of life insurance companies is calculated in accordance with Solvency II regulation. Solvency data is published on the basis of Solvency II reporting, provided on a quarterly basis by life insurance companies from 31 December 2016 onward. The Solvency II data is unaudited.

Solvency II regulation does not require recalculation of the capital requirement on a quarterly basis. End-of-year solvency data is published on the basis of annual reporting, with recalculated capital requirement.

Transition to Solvency II regulation has been facilitated with the transitional provisions included in SII regulation. In addition to the possible use of the transitional measures, the possibility of using a volatility adjustment or matching adjustment, included in regulation, has an impact on the comparability of the companies.

Specification of net investment income
Specification of operating expenses
Specification of direct premiums written
Solvency margin until 31 December 2015