Sweden’s Financial Supervisory Authority (FI) has closed its investigation into Nordnet Pensionsförsäkring AB.

FI has carried out an investigation, which began in March 2023, into the calculation of capital requirements for cancellation risk, including the risk mitigation techniques that the company uses in this calculation.

It has also investigated certain parts of the company's technical provisions and technical calculation bases.

“The notification stated that the purpose of the investigation was to review the company's calculation of the capital requirement for lapse risk and parts of the calculation of the technical provisions, as well as to review the part of the company's technical calculation basis (FTB) that concerns the aforementioned parts,” FI stated.

In connection with the notification, FI requested material from the company and in September 2023, FI sent additional questions, which the company answered.

The financial supervisor said it has concluded the investigation without having made any judgement based on the documentation requested and “can therefore neither confirm nor deny the existence of any deficiencies”.

“Given the time that has passed since the investigation was initiated, FI does not find that it is justified to take further investigative measures within the announced investigation,” it said.

However, FI said that the fact that the investigation is closed and the case is written off does not mean that it is prevented from investigating the notified matter at a later date.

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