German federal financial services supervisory authority, competent for banking, insurance and markets.
BaFin is the German federal financial services supervisory authority, competent in an integrated way for banking, insurance, securities markets and asset management. For insurance, it supervises German insurers and reinsurers under the Solvency II regime, ensuring their solvency, the protection of policyholders and the quality of their governance. Its integrated perimeter, covering the whole financial sector within a single authority, illustrates a unified supervision model distinct from other national organisations. Like its peers, BaFin cooperates with EIOPA and other European supervisors, particularly for the large cross-border groups whose headquarters Germany hosts, including leading reinsurers. It has strengthened its vigilance on governance and internal controls in recent years after several high-profile cases in the financial sector. For a German insurer or an international group operating there, BaFin is the reference prudential supervisor.
A large reinsurer headquartered in Germany is supervised by BaFin for its solvency and governance, in coordination with the supervisors of the countries where it operates.
BaFin, régulateur financier allemand, Bundesanstalt fur Finanzdienstleistungsaufsicht