FFFS 2015:8

FI’s regulations and general guidelines on insurance business

In force from 2016-01-01


The regulations and the general guidelines gather the majority of Finansinspektionen's rules related to Swedish insurance undertakings under one main regulation. The regulations apply to insurance undertakings and pension foundations. Only parts of the provisions regarding suitability assessments apply to pension foundations. In accordance with Chapter 19 of the Insurance Business Act (2010:32043), the regulations are applicable at the group level.

The regulations are part of the Swedish implementation of the Solvency II Directive. They cover in part rules on authorisation, technical provisions, investments, own funds, capital requirements corporate governance, suitability assessments, disclosures and groups.

The regulations enter into force on 1 January 2016, whereupon they replace thirteen older regulations and general guidelines regarding insurance business.

FFFS 2015:8 is currently not available in English.


Under the amendments, the regulations no longer apply to pension foundations. The amendments enter into force on 1 July 2020. Amendment FFFS 2020:7

Under the amendments, more insurance undertakings may receive consent to use matching-adjusted risk-free interest term structures for relevant durations when calculating the best estimate of life insurance liabilities. FI is also adjusting one of the formulas for calculating volatility adjustment of risk-free interest term structures. The requirement that legal persons shall use specific forms when applying for authorisation to acquire shares in insurance undertakings has also been removed. Amendment FFFS 2020:6

The amendments specify which direct administrative costs an insurance undertaking may consider when determining fees for surrender and transfer of life insurance policies. The amendments enter into force on 1 March 2020. Amendment 2020:1

Amendments to the basic regulation. Finansinspektionen amends regulations regarding ownership, owner management and management suitability assessments. Under the new regulations, legal and natural persons must provide information about all sanction decisions directed to them even if the decision is more than 10 years old. The time limitation previously included is removed in the new regulations. The information about sanction decisions is provided in the forms for ownership, owner management and management suitability assessments, which are included as appendices to, for example, FI's regulations and general guidelines (FFFS 2015:8) regarding insurance business.

FI has amended the regulations to include a reference to Commission Implementation Regulation (EU) 2015/2452. The regulation was not published in the Official Journal of the European Union when the basic regulation was decided in November 2015, A disclosure provision has also been introduced for insurance undertakings that apply transition regulations for operations relating to occupational pension insurance. Appendix 2a has also been corrected due to the repetition of a previously specified provision.

The amendments enter into force on 1 February 2016. Amendment 2016:3


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