Cross-Border Cooperation Platform: Národná banka Slovenska has issued an interim measure to NOVIS prohibiting free disposal of its assets
Published By Europa [English], Thu, Nov 12, 2020 7:39 AM
In September, NBS has already issued an interim measure. More information is available here.
NOVIS is a life insurance undertaking established in 2014 in Slovakia and supervised by the NBS. Besides its home market, NOVIS pursues life insurance activity through freedom of establishment in Austria, the Czech Republic and Germany and through freedom to provide services in Finland, Hungary, Iceland, Italy, Lithuania, Poland and Sweden.
In order to ensure the adequate protection of policyholders throughout the European Economic Area, EIOPA has been working closely with NBS and the other national competent authorities through its cooperation platform to address this issue in the operations of NOVIS, from both prudential and conduct of business perspective.
Press release distributed by Media Pigeon on behalf of Europa, on Nov 12, 2020. For more information subscribe and follow