Which life companies are covered by the traffic light system?
All life insurance companies and occupational pension funds will report as part of the traffic light system. This means that unit-linked insurance as well as life insurers with only risk products must report. However, certain small occupational pension funds with a solid risk buffer have received a dispensation.
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Which non-life companies are covered by the traffic light system?
The non-life insurance companies that will report as part of the traffic-light system are all the national companies and the large local companies. The small local companies are not included in the traffic-light reporting system.
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Must company-linked pension foundations report on the traffic light model?
No. Foundations are not covered by traffic light.
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Will FI publish a list of the companies that are subject to a red light?
No. However, any sanctions adopted by FI against a company will be made public.
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At what point can FI prevent a life assurance company/occupational pension fund from writing new policies?
If the capital base exceeds the solvency market (that is, 1) and there are specific reasons to assume that the company’s financial position will be further weakened, FI may limit the company's rights or forbid the company the right of disposal over its assets in Sweden. This should mean that in this situation FI can forbid the writing of new policies.
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How does FI announce the sanctions that may be applied against life assurance companies/occupational pension funds?
A formal sanction decision will normally be announced publicly through being published on the home page and presented in FI's newsletter. Decisions are also presented in the minutes from FI's Board.
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