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Finanstilsynet notifies possible revocation of Insr Insurance Group ASA’s licence

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In a letter dated 26 June 2020, Finanstilsynet notified Insr Insurance Group ASA that it is considering making a decision to withdraw the undertaking’s licence to operate as a non-life insurer.

The notification is based on Finanstilsynet’s assessment that there are persistent and serious deficiencies in the management and control of the business. Insr Insurance Group ASA has until mid-August 2020 to respond to the notification. Finanstilsynet will consider the undertaking’s response before making a decision.

The content of the notification is exempt from public disclosure. Finanstilsynet’s final assessments will be public.  At the present time, Finanstilsynet is unable to say when the matter will be finalised.

Read more: Insr: Notification from the Norwegian Financial Supervisory Authority (NFSA) and Announcement of Strategic Review

Regulator Information

Abbreviation: FSA
Jurisdiction: Norway

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