English translation of article 2 of the Swiss Insurance Supervision Act


Chapter 1: Subject, purpose and scope
> Art. 1 Subject and purpose
< Art. 3 Authorisation requirement

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 2 of the Swiss Insurance Supervision Act 


1 The following are subject to supervision under this Act:

a. Swiss insurance companies operating direct insurance or reinsurance;

b. insurance companies domiciled abroad for their insurance activities in or from Switzerland, subject to differing provisions in international treaties;

c. insurance intermediaries;

d. insurance groups and insurance conglomerates. 

2 The following are exempt from supervision under this Act:

a. insurance companies domiciled abroad, which only conduct reinsurance business in Switzerland;

b. insurance companies insofar as they are subject to a special supervision under Federal law, to the extent of such supervision; are considered as such in particular the occupational pension institutions registered in the register of occupational pension insurance. 

c. insurance intermediaries in a relation of dependence with a policyholder, to the extent that they solely pursue the interests of this policyholder and the companies controlled by the same.

d. insurance cooperatives that existed on 1 January 1993, to the extent that:

1. they are domiciled in Switzerland,

2. they are closely connected to an association or federation whose primary purpose is not insurance business,

3. their annual gross premium income has never exceeded 3 million Swiss Francs since 1 January 1993,

4. their scope of activity is restricted to the Swiss territory since 1 January 1993,

5. they only insure members of the association or federation with which they are closely connected, and

6. the insured are the members of the insurance cooperation with voting rights and they can, by virtue of their membership, decide on the insurance benefits and premiums.

3 Insurance companies, whose insurance activities are of minor economic importance or only concern a small circle of insured, can be exempted from supervision by the Swiss Financial Market Supervision (FINMA), where particular circumstances so justify.

4 The Federal Council shall define what constitutes the exercise of an insurance activity in Switzerland.