Suomi Mutual's insurance portfolios transferred
Suomi Mutual Life Assurance Company (Suomi Mutual) will wind down its business. It has transferred all of its insurance portfolios. The company transferred its last portfolio, or individual pension policies, to OP Life Assurance Company on 31 December 2016. This means an end to the ten-year period of running down Suomi Mutual's business, and the company has applied for terminating its licence.
Previously, Suomi Mutual transferred its group pension insurance portfolio to Mandatum Life and its individual life insurance portfolio to OP Financial Group. With the portfolio transfers, Suomi Mutual transferred assets to the amount equalling the share of each portfolio in its investment assets.
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