In addition to Fennia Asset Management Ltd, Fennia Group consists of Fennia Mutual Insurance Company providing risk management and non-life insurance solutions for business clients and Fennia Life offering wide range of voluntary life, pension and deposit insurance products.
Lexia was appointed as an outsourced compliance officer for Fennia Asset Management Ltd. Lexia’s Finance & Insurance department was in charge of following any regulatory changes and estimating their impact on business activities of Fennia Asset Management Ltd as well as making sure possible risks are identified and required measures were taken. The assignment was grown to include also the strategic planning of Fennia Group’s management concerning restructuring of the whole financial group. The restructuring of group companies and operations (including establishing new entities and applying new licenses e.g. alternative investment funds, AIFM) was critical for the group in order to meet the new market challenges the digitalization and regulation has caused.