English translation of article 21 of the Swiss Insurance Supervision Act

Participations 

Chapter 3: Conduct of insurance activities
Section 1: Financial resources
> Art. 20 Provisions governing the tied assets
< Art. 22 Risk management

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 21 of the Swiss Insurance Supervision Act 

Participations

1 An insurance company domiciled in Switzerland which intends to acquire a participation in another company must notify this to FINMA if the participation reaches or exceeds 10, 20, 33 or 50 percent of the capital or voting rights of the other company.

2 Whoever intends to directly or indirectly participate in an insurance company domiciled in Switzerland must notify this to FINMA if the participation reaches or exceeds 10, 20, 33 or 50 percent of the capital or voting rights of the insurance company.

3 Whoever intends to reduce its participation in an insurance company domiciled in Switzerland below the thresholds of 10, 20, 33 or 50 percent of the capital or voting rights or to so alter its participation that the insurance company no longer is a subsidiary must notify this to FINMA.

4 FINMA may prohibit a participation or subject it to conditions if the nature or scope of the participation could endanger the insurance company or the interests of the insured.

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