why does my insurer ask about my expected revenue

Expected turnover is a risk indication, not an annual figure

An insurer asks about your expected turnover because that figure directly determines the premium and coverage. In liability or business damage insurance, the premium is often a percentage of turnover, and the expected turnover of the current or coming year is then the calculation basis. For credit insurers and some commercial insurance policies, expected turnover also counts as an indication of business size and growth, alongside the credit assessment that is this topic discussed.

This is therefore not a question from client due diligence on source of funds or UBO structure — those questions have a different purpose and different sources, as can be read at who are the ultimate beneficial owners of the company. Expected turnover is the company's own estimate, not a filed or externally verified figure. If you don't have a precise estimate, the realised turnover of the last financial year is usually an accepted alternative, possibly with a note that it is an estimate.

Where this comes from: premium basis, not Trade Register Act

Expected turnover does not appear in the Trade Register Act 2007 — which records fixed business data, such as legal form and registered address, not turnover forecasts. The Act on the Prevention of Money Laundering and Financing of Terrorism also does not ask for expected turnover; that client due diligence focuses on identity, UBO and source of funds. The question about expected turnover stems from the way insurers calculate their premiums: that is a contractual and actuarial agreement between insurer and insured, not a legal obligation under any of these regulations. If you compare this question with what a bank asks in a KYC process, the difference in purpose becomes immediately apparent — that difference is explained at why the bank asks different questions than the insurer.