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
. If an insurance company is part of an insurance group or conglomerate, it also submits consolidated financial statements. Moreover, listed companies must meet the reporting requirements set out in the Stock Exchange Act (SESTA
The annual report is produced primarily for the shareholders, while the supervisory report is intended for FINMA. Both reports must be submitted to FINMA by the end of April of the following year. Insurers only offering reinsurance have until the end of June.
Contents of the reports
- The annual report consists of the annual financial statements, a management report and, where appropriate, the consolidated financial statements. The annual financial statements comprise the balance sheet, income statement, notes and cash flow statement.
- The supervisory report contains extensive qualitative and quantitative data, which FINMA publishes in the form of excerpts or in an aggregated manner in its annual Report on the insurance market.
FINMA can require additional reporting from companies throughout the financial year and define special requirements for the annual report