Vinge’s insurance team has written a brief summary of some of the main features of the Swedish regulations affecting foreign insurers with existing or contemplated business activities in Sweden.
There are more insurance companies per inhabitant in Sweden than in any other European country. Swedish insurance companies generated premium income of approximately SEK 325 billion in 2017; in 2017 they employed almost 21,000 people and invested SEK 4,500 billion in the global economy. The Swedish insurance industry consists of about 350 insurance companies. Most of the insurance companies are small non-life insurance companies. The market is concentrated into a few large groups.
The international presence on the Swedish insurance market has increased in the past ten years. There are approximately 35 foreign insurance companies represented via branches or agencies.
Download the full summary - Insurance services in Sweden (pdf)
The summary covers, among other things:
• Financial services and investment relations
• Business requirements for Swedish insurance companies and cross-border services/branch offices/general agencies
• Applicable laws
• Future regulatory changes – such as implementation of IORP II
Vinge´s Corporate Insurance Practice Group
Vinge’s insurance practice group was founded in 1990, which made Vinge the first law firm in Sweden with an insurance business law specialisation. Vinge’s insurance practice is insurer-led and is particularly strong in the field of insurance-related transactions and regulatory work.