The Financial Supervisory Authority in Iceland and the Insurance Authority of the Faroe Islands have signed MoU.

18.9.2008

The Financial Supervisory Authority in Iceland and the Insurance Authority of the Faroe Islands have signed a Memorandum of Understanding (MoU).

The purpose of the MoU is to establish a framework for cooperation regarding notification procedure of cross border services of insurance companies, the supervision of insurance companies and the exchange of confidential information on the principles and procedures laid down in this agreement and the Hoyvíkur agreement between Iceland and the Faroe Islands signed 31 August 2005.

The MoU took effect on 1 September 2008.

For more information please contact Mr. Rúnar Guðmundsson, Head of Insurance Market, runar@fme.is / phone: + 354 525 2700

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