English translation of article 23 of the Swiss Insurance Supervision Act

Appointment and function 

Chapter 3: Conduct of insurance activities
Section 3: Responsible actuary
> Art. 22 Risk management
< Art. 24 Duties

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 23 of the Swiss Insurance Supervision Act 

Appointment and function

1 Insurance companies must appoint a responsible actuary and grant this person access to all business records.

2 The responsible actuary must enjoy a good reputation, be professionally qualified and able to correctly assess the financial consequences of the activity of the insurance company. The Federal Council shall determine the professional qualifications the responsible actuary must have.

3 The insurance company must immediately inform FINMA of the dismissal or resignation of the responsible actuary.