Regulatory Alerts2013-04-23
Regulations amending Finansinspektionen’s regulations regarding the EUR rate in the area of insurance
Finansinspektionen issued regulations amending its previous rules to establish the official EUR to Swedish krona exchange rate for insurance calculations. The authority prescribes that one euro corresponds to 8.62 Swedish krona, based on the Riksbank's rate from 31 October 2012. This rate applies to calculations as of 31 December 2012 and the regulations entered into force on that same date.
Finansinspektionen’s Regulatory Code Publisher: Finansinspektionen, Sweden, www.fi.se ISSN 1102-7460 This translation is furnished for information purposes only and is not itself a legal document. 1 Regulations amending Finansinspektionen’s regulations (FFFS 2011:48) regarding the EUR rate in the area of insurance; decided on 13 November 2012. Finansinspektionen prescribes pursuant to Chapter 7, sections 2 and 5 of the Insurance Business Ordinance (2011:257) in respect of Finansinspektionen's regulations (FFFS 2011:48) regarding the EUR rate in the area of insurance that sections 1 and 2 shall have the following wording. Section 1 One euro shall correspond to 8.62 Swedish krona1 when applying a) the Insurance Business Act (2010:2043), b) the Insurance Business Act (1982:713) as applied by mutual benefit societies pursuant to the Act (2010:2044) on the Implementation of the Insurance Business Act (2010:2043), c) Undertakings of Foreign Insurers and Occupational Retirement Provision in Sweden Act (1998:293), or c) Finansinspektionen's regulations and general guidelines decided pursuant to the Insurance Business Ordinance (2011:257). Section 2 The stated EUR rate is to be applied to calculations as of of 31 December 2012.
These regulations shall enter into force on 31 December 2012. MARTIN ANDERSSON Håkan Källgård
1 According to the Riksbank one euro correponded to 8.6192 Swedish krona on Wednesday, 31 October 2012. FFFS 2012:8 Published on 19 November 2012