Supervisory review process

The supervision focuses on ensuring that policyholders and other beneficiaries are highly likely to receive the compensation to which they are contractually entitled. Central for supervision is also the undertakings duty of care, which means that insurance undertakings must start with the consumers' needs and conditions when developing and selling different types of products and services, so these are appropriate for individual consumers.

A central part in FI's supervision is to ensure that undertakings and groups have control over their operations, for example applicable risks and regulatory requirements, and that they comply with their internal policy documents and decision-making processes. This requires flexible supervision that focuses on analysing and ensuring the effective management of risks and the fulfilment of requirements on solvency capital.

The forward-looking and risk-based methodology is based on a risk identification and risk and effect categorization that FI conducts once a year. Based on these and individual risk analyzes, supervision plans are drawn up, in which planned supervision activities to be carried out during the year are stated.

A supervisory plan may cover a single undertaking, a single group or a larger number of undertakings or groups. The supervisory plans are updated regularly based on risks and priorities. Depending on what emerges in the supervision, different measures can be taken. Supervisory activities and supervisory measures may take place at any time during the year, if and when FI considers there to be a need.

The supervisory review process is evaluated regularly.