Stand:updated on 01.01.2016 General Information on Supervision
The primary objective of supervision is to protect the insured. BaFin has the task of monitoring all business operations of insurance undertakings within the framework of legal supervision in general and financial supervision in particular.
When performing its tasks, BaFin monitors compliance with the laws applicable to the pursuit of insurance business and, in the case of primary insurance undertakings, also ensures that the interests of the insured are adequately safeguarded. In this context, it takes into account as appropriate the potential impact of its decision on the stability of the financial system in the relevant countries concerned in the European Economic Area. In times of exceptional movement on the financial markets, BaFin takes into account the potential pro-cyclical effects of its actions.
Further information on legal and financial supervision can be found here.
