English translation of article 10 of the Swiss Insurance Supervision Act

Organisation fund

Chapter 2: Taking up insurance activities
Section 2: Requirements
> Art. 9 Capital resources
< Art. 11 Purpose of the company

This page contains an English translation of the below Article of the Swiss Insurance Supervision Act (ISA) and is part of a web based Swiss ISA commentary in German language. Should you require qualified written legal advice on the ISA from a Swiss lawyer please do not hesitate to contact: Melissa Gautschi

Article 10 of the Swiss Insurance Supervision Act 

Organisation fund

1 In addition to the capital, an insurance company must have an organisation fund that allows it, in particular, to cover the costs of establishment and development of its business or of an exceptional expansion thereof. The amount to be held in the organisation fund upon taking up the business activities shall, as a rule, correspond to up to 50 percent of the minimum capital pursuant to article 8.

2 The Federal Council shall regulate the amount to be held in the organisation fund as well as its establishment, duration of maintenance and reinstatement.

3 FINMA shall determine the amount to be held in the organisation fund on a case by case basis.
Comments