ERGO Elukindlustus obtains licence for unit-linked life insurance
The Financial Supervision Authority issued ERGO Elukindlustuse AS (ERGO Life Insurance Company) an additional licence for unit-linked life insurance. Unit-linked life insurance differs remarkably from traditional life insurance products that ERGO Elukindlustus has been offering its clients so far and in essence resembles an investment product.
The Financial Supervision Authority conducts state supervision over banks, insurance undertakings, investment firms and funds operating in Estonia under a licence, and over the securities market. In respect of branches of banks and insurance undertakings operating in Estonia, primary supervision is conducted by the supervisory authority in the country of origin of the credit institution or insurance undertaking. Lessors and credit offices are not under the supervision of the Financial Supervision Authority.