FINMA’s Insurance division licenses and supervises insurance companies domiciled in Switzerland and Swiss branches of foreign insurance companies. FINMA can place insurance groups and conglomerates under its supervision, which complements individual company supervision. Once licensed, an insurance company is assigned to one of the division’s two supervisory sections, depending on its size, complexity and client protection needs.
The Personalised Supervision of Insurance Companies section primarily supervises those insurance companies that require a high to very high intensity of supervision for reasons of client protection. In parallel to this, the Digital Supervision of Insurance Companies and Intermediaries section is responsible for the supervision of a large number of primary insurers and reinsurers. This also includes the supervision of insurance intermediaries, innovative digital platforms as well as InsurTech start-up companies.
In addition, two groups, one within each supervisory section, carry out on-site supervisory reviews and are in charge of intensive supervision.
The Legal Expertise, Authorisation and Registration, Risk Management (Swiss Solvency Test, tariff audits, actuarial support) and Division Operating Office teams (organisational development and operational management) support the two supervisory sections and the two groups responsible for the supervision of Zurich Insurance Group and Swiss Re.