FIN-FSA appoints authorised representative to supervise the activities of Elo Mutual Pension Insurance Company

In accordance with section 29 of the Act on the Financial Supervisory Authority (878/2008), the Financial Supervisory Authority may appoint an authorised representative to supervise the activities of an authorised supervised entity for example if there is evidence of incompetence or carelessness in the management of its affairs.

The FIN-FSA’s decision does not require any actions by the company's customers, and the decision does not affect the insurance cover provided by the company. The FIN-FSA will reassess the necessity of an authorised representative at the latest in June 2021.

This decision has not yet become legally binding. The company has the right to appeal the decision issued on 11 December 2020 to the Administrative Court within 30 days of the date of service of the decision.

For further information, please contact

Kaisa Forsström, Head of Department, Insurance Supervision
Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 50 385 5030 (weekdays 9.00–16.00).

Appendix

Decision of the Financial Supervisory Authority (in Finnish)