The Financial Supervisory Authority of Spain announces the commencement of winding up proceedings and withdrawal of authorization for an insurance company

In its letter dated 27 October 2017, the Spanish Financial Supervisory Authority El Director General de Seguros y Fondos de Pensiones announced that the Ministry (Ministro de Economía, Industria y Competitividad) issued a decision on 12 September 2017 to initiate the winding-up procedure for the company Montepío de Conductores de Valladolid y Provincia, Mutualidad de Previsión Social and to withdraw its authorization.

The announcement was made in accordance with the Solvency II Directive.

This public notice by the Finnish Financial Supervisory Authority is based on section 15a of the Act on Foreign Insurance Companies (398/1995).​