why do I have to break down turnover by country for the insurer

Country distribution says something about risk concentration

An insurer asks for turnover broken down by country to see where your company's risk lies, not to obtain a complete accounting report. With credit insurance or liability insurance, it matters from which countries your turnover comes: some countries are considered higher risk by the insurer, due to political instability, sanctions legislation or payment risks in that market. The breakdown is therefore part of the risk assessment of the policy, not a separate audit of your company.

This often correlates with other questions in the same questionnaire, such as questions about sanctions lists or the countries where you maintain banking relationships. If your file already records at which banks the enterprise maintains accounts, you can often use that country information as context when answering the turnover question. If you do not have exact figures per country available, a reasonable estimate with an explanation is usually more workable than leaving the field blank — in that case, fill in what you know, and indicate that it is an estimate.

No legal obligation, but a contractual requirement

This question does not stem from a law that requires you to record or share turnover by country; the Trade Register Act 2007, for example, sets out which basic data about a company are public, but turnover by country is not among them. The basis lies with the insurer itself: that insurer makes this question a condition for concluding or continuing the policy, comparable to how under the Act on the Prevention of Money Laundering and Terrorist Financing banks and insurers must conduct client due diligence on their own customers. It is therefore a contractual requirement of your insurer, not a statutory reporting obligation that rests on you as a company. Compare this with the question about your financial health for the insurer: that too is risk assessment by the insurer, not a mandatory disclosure.