Non-life insurers

Companies offering non-life insurance in Switzerland must obtain FINMA authorisation FINMA issues licences to those companies which meet the statutory requirements and provide for the protection of the interests of insured persons. 
FINMA can license one or more insurance sectors (Art. 6 para. 3 Insurance Supervision Act (ISA)) at a time. These are listed in Appendix 1 of the Insurance Supervision Ordinance (ISO).
Non-life insurance sectors
In addition, the authorised non-life insurance companies can also offer reinsurance in the sector. They are not, however, permitted to offer life insurance.

Licensing requirements

Licensing requirements are numerous and include capital requirements, the provision of detailed information about business activities, and conditions to be met by those responsible for managing the company. More detailed information about requirements and the licensing process is available in the various guidelines and in the forms for business plans

Legal form

Swiss limited companies and cooperatives are permitted to operate in Switzerland. Branches of foreign insurance companies are also eligible to apply for authorisation. The situation with regard to the Principality of Liechtenstein is different in so far as Liechtenstein-based non-life insurance companies are permitted to operate in Switzerland without any additional licence, as are Swiss companies in Liechtenstein.