Regulatory Alerts2025-04-15
AFM Supervision of Closed-Book Life Insurance Policies
The Dutch Authority for the Financial Markets (AFM) issued this April 2025 twopager to monitor service quality and information provision for approximately 8 million closed-book life insurance policies that are shrinking annually. The regulator highlights that while insurers are focusing on cost control through digitalization and outsourcing, they must maintain accessibility for less digitally skilled customers and improve the quality of customer data. The AFM recommends periodic product reviews, rigorous risk analyses for outsourcing activities, and proactive communication to ensure customer interests remain central despite market consolidation and operational efficiencies.
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