2009-11-10
Decision on injunctive order - Aspis Liv Försäkrings AB
Aspis Liv Försäkrings AB is a life insurance company within the Aspis Group that issues risk insurances. Finansinspektionen conducted an onsite evaluation of the company in October and November 2009, during which it became apparent that Aspis Liv does not have control over the majority of its assets.
It is currently unclear how much of its funds the company actually has at its disposal. The funds that with certainty are available to the company are not sufficient to meet the regulations for liability coverage and solvency.
These regulations exist to guarantee that an insurance company can fulfil the commitments it has undertaken with respect to policyholders. It is namely unclear whether or not Aspis Liv is able to fulfil its commitments to its policyholders.
Finansinspektionen finds the situation to be of such a serious nature that it orders Aspis Liv to immediately, although no later than 12PM on November 12, 2009, submit a financial recovery plan for the rapid restoration of its own funds.
