Press release 17 May 2018

FIN-FSA appoints an authorised representative to oversee the ongoing activities of Pohjantähti Mutual Insurance Company

The Financial Supervisory Authority (FIN-FSA) has appointed an authorised representative for Pohjantähti Mutual Insurance Company to oversee the company's ongoing activities as of 4 May 2018. The designated representative is Pekka Jaatinen, Attorney.

According to section 29 of the Act on the Financial Supervisory Authority, the FIN-FSA may appoint an authorised representative to oversee the activities of an authorised supervised entity if, for example, there is evidence of incompetence or carelessness in the management of the entity's affairs.

The FIN-FSA's decision does not require any measures from the customers of Pohjantähti, nor does it have an effect on the company's insurance cover. The FIN-FSA will reassess the conditions for appointing an authorised representative in September 2018, at the latest.

The decision is not yet legally binding. The company has the right to appeal the decision of 14 May 2018 to the Administrative Court within 30 days of the company's receipt of notice of said decision.

Further information

  • Teija Korpiaho, Head of Division (Life and Non-Life Insurance, Insurance Supervision)
  • Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 9 183 5030, weekdays 9.00–16.00

Appendix