On 18 September 2020 the Národná banka Slovenska (NBS), the Slovakian national supervisory authority, issued an interim measure banning new business from NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poisťovňa a.s. (NOVIS), until specified conditions are fulfilled by NOVIS.
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.
