Nordic insurance sector associations have tightened their cooperation in recent years. According to FFI’s representative, Director Mari Pekonen-Ranta, the Nordic countries have always communicated and exchanged information well. The associations met last week in Helsinki to discuss their shared topics of interest.
The executives of the Nordic insurance associations meet on a regular basis. In their most recent meeting, they discussed matters such as the upcoming Solvency II reform, the role of the insurance sector in the Nordic welfare model and digitalisation, and questions relating to responsibility in the sector.
“Responsibility is a hot topic not only in Finland but also globally. The basic premise is that the insurance sector does not only focus on legal compliance but also on the social, economic and environmental aspects of its operations”, Pekonen-Ranta explains.
Outside of its regular meetings, the Nordic financial sector is engaged in tight cooperation in general. The Nordic and Baltic banking associations, for example, published their shared objectives for this EU legislature earlier in 2019. Finance Finland has also set up a shared Brussels office with the Swedish, Danish and Norwegian banking and securities associations. This will make communications between the countries even more fluent.
Last week’s meeting had participation from the Finnish, Swedish, Danish, Norwegian and Icelandic insurance sector associations.