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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FIN-FSA’s findings from supervision of life and non-life insurance companies in 2021
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Taking sustainability risks into account in the supervision of insurance undertakings: regulatory changes and expectations set by supervisors
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Financial Supervision Authority will not extend its recommendation for insurance companies to refrain from dividend distributions
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Responsibility and participation in decision-making of deputy members of the board of insurance companies
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Sending confidential information to FIN-FSA as secure email
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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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Financial sector’s capital position as at 31 March 2019: Finnish financial sector’s capital position remained good
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Financial Supervisory Authority strengthens anti-money laundering supervision – European supervision will also be enhanced
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Development of the FIN-FSA Reporting Application has ended | EBA EIOPA ESMA
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New version of FIN-FSA Reporting Application downloadable from Jakelu Distribution Service | EIOPA
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Updated workbooks and instructions for the RA data collection published | National reporting (Virati)
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Questions and answers on the Reporting System Reform | EBA EIOPA ESMA National reporting (Virati)
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Solvency II Taxonomy version and Hotfix 2.6.0 for life and non-life insurance companies | EIOPA
Statistics on life insurance companies
Statistics on non-life insurance companies