Supervision of insurance groups and conglomerates
FINMA can place insurance groups and conglomerates under group supervision.
Under Articles 65 and 73 of the Insurance Supervision Act (ISA), FINMA can place an insurance group or conglomerate which belongs to a company in Switzerland under group/conglomerate supervision if:
- the insurance group or conglomerate is managed from Switzerland or
- the insurance group, where it is managed from another country, is not subject to equivalent group/conglomerate supervision in that country.
Supervision covers all of a group's companies worldwide.
Criteria for being placed under group supervision
Group supervision becomes necessary when a group operates on an international scale and has a complex structure. Conglomerate supervision is used if the group also plays a key role in the financial service sector; this applies in particular to banks and securities dealers.
