Annual report, financial statements and supervisory report

By law, insurance companies must produce an annual report and financial statements as of 31 December each year. They are also required to produce an annual supervisory report for FINMA.

Insurance companies are required to produce an annual report in accordance with the Swiss Code of Obligations and a supervisory report in accordance with the ISA and ISO. If an insurance company is part of an insurance group or conglomerate, it must also submit consolidated financial statements. Moreover, listed companies must meet the reporting requirements set out in the Stock Exchange Act (SESTA).

The annual report and financial statements are produced primarily for the public, while the supervisory report is intended for FINMA. Both reports and the financial statements must be submitted to FINMA by the end of April of the following year; reinsurers have until the end of June.

Contents of the reports

The annual report consists of the annual financial statements, a situation report and, where appropriate, the consolidated financial statements. The annual financial statements comprise the balance sheet, income statement and notes.
The supervisory report contains extensive qualitative and quantitative data, excerpts from which are published by FINMA in its annual Report on the insurance market.

FINMA can also require additional reporting from companies throughout the financial year and define special requirements for the annual report and financial statements.