DEN GVT Insurance Outsourcing

On Dec. 14, DEN GVT issued order on insurance, pension outsourcing.

  • DEN GVT issued Executive Order BEK 1534 of Dec. 6, 2024 on outsourcing for group 2 insurance companies, the Danish Labour Market Supplementary Pension and the Danish Employees' Welfare Fund.
  • Follows DEN FSA May 28, 2020 informed of executive order on outsourcing, #79839.
  • Main Points
  • Details on written outsourcing policy, specific requirements when outsourcing critical or important operational functions or activities, exemptions by the competent DEN FSA.
  • Effectiveness
  • The Executive Order enters into force on Jan. 1, 2025; previous Executive Order BEK 723 of May 28, 2020 is repealed.

Regulators DEN FSA; DEN GVT
Entity Types Ins; Pension
Reference OG 24-019223, 12/14/2024; BEK 1534, 12/6/2024; Rpl BEK 723, 5/28/2020
Functions Compliance; Legal; Operations; Outsourcing; Reporting; Risk; Technology
Countries Denmark
Category
State
Products Insurance; Pensions; Retirement Plan
Regions EMEA
Rule Type Final
Rule Date 12/14/2024
Effective Date 1/1/2025
Rule Id 237290
Linked to N/A
Reg. Last Update 12/14/2024
Report Section EU

Last substantive update on 12/18/2024