The authorised representative appointed to Elo by FIN-FSA shall continue in his position

Elo Mutual Pension Insurance Company has, on 9 June 2021, received a decision from the Financial Supervisory Authority (FIN-FSA) regarding the continuation of the appointment of Pekka Jaatinen, attorney and Master of Laws with court training, as the authorised representative for Elo. Jaatinen has served as the authorised representative since 14 December 2020. The authorised representative supervises Elo’s operations and acts as a representative of the FIN-FSA in the meetings of the Board of Directors and the executive group, but he will not take part in decision-making.

Over the past year, the company has taken several actions to strengthen the operational models and expertise of the company’s management. This work will continue determinedly through successful co-operation with the supervising authority and its authorised representative.

The activities of the authorised representative will not affect Elo’s daily operations or the company’s insurance provision or investment activities.  Elo’s solvency is at a highly securing level. The insurance policies and pensions of Elo customers are being managed well. FIN-FSA will reassess the need for the authorised representative no later than April 2022.