Regulatory Alerts2026-04-09
Insurance Supervision Act 2016 (VAG 2016)
The Austrian Financial Market Authority (FMA) enforces the Insurance Supervision Act 2016 to regulate the authorization, governance, and ongoing supervision of insurance and reinsurance undertakings. The legislation establishes comprehensive requirements for solvency capital, risk management, internal controls, and the conduct of insurance distribution to ensure policyholder protection. It further defines the FMA's supervisory powers, including enforcement measures, group supervision mechanisms, and penal provisions for regulatory breaches.
Share