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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Sending confidential information to FIN-FSA as secure email
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FIN-FSA’s findings from supervision of non-life and life insurance companies in 2020
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Summary of assessment of money laundering risk concerning the life insurance sector has been published
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FIN-FSA letter to the Ministry of Social Affairs and Health on conditions in the financial markets
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Amendments to Regulations and guidelines 1/2011 ‘Submission of electronic supervisory data of an entity operating in the insurance markets to the FIN-FSA’
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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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Reform of the Reporting System
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New version of FIN-FSA Reporting Application downloadable from Jakelu Distribution Service
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Signature certificates updated in reporting encryption software and CSV-format reporting applications | EBA, EIOPA, ESMA, National reporting (Virati)
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EBA DPM 3.0 version testable with demo version of FIN-FSA Reporting Application and reporting test environment
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Solvency II validations have been updated for life and non-life insurance reporting | EIOPA
Statistics on life insurance companies
Statistics on non-life insurance companies