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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Amendment to regulations and guidelines 9/2014 on the introduction of the LEI code
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European Commission has published several new interpretation recommendations on financial sanctions
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Thematic review of the use of new technologies and related risks
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Financial Supervision Authority calls for enhanced monitoring of cyber security
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Financial Supervision Authority urges supervised entities to ensure that guidelines and systems for compliance with sanctions are up-to-date
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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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Solvency II DPM and Taxonomy 2.7.0 and 2.8.0 Public Working Draft versions are available for feedback | EIOPA
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Proposed ITS amendments on Solvency II reporting and disclosure requirements for non-life and life insurance undertakings submitted to the Commission | EIOPA
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Description of machine-language data transmission of XBRL format reports (EBA and EIOPA) of Financial Supervisory Authority’s new reporting system has been published | EBA EIOPA
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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
Statistics on life insurance companies
Statistics on non-life insurance companies