International insurance operations

Most of the regulation of Finland's life and accident insurance operations is based on the directives of the European Community.

In order to realise the EU internal market in the insurance sector the insurance legislation of the member states of the European Economic Area has been harmonised. EU legislation on insurance operations has for the most part come into force in all EEA countries.

International licences

In addition to the EU, the open European insurance market covers Iceland, Liechtenstein and Norway. A single licence enables an insurance company to operate within the entire area of the internal market.

Finnish statutory earnings-related pension insurance business can only be carried on by Finnish based pension companies, though foreign actors can own Finnish authorised pension institutions.


Oversight is mainly carried out by the member countries of the EEA.

The Finnish MSAH takes part in the work of the EU Insurance Committee and other preparatory and expert bodies of the EU Commission.