English translation of article 3 of the Swiss Insurance Supervision Act

Authorisation requirement

Chapter 2: Taking up insurance activities
Section 1: Authorisation
> Art. 2 Scope
< Art. 4 Application for authorisation and business plan

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 3 of the Swiss Insurance Supervision Act 

Authorisation requirement

1 Each insurance company pursuant to article 2 paragraph 1 letters a and b that is subject to supervision (insurance company) requires an authorisation from FINMA in order to take up insurance activities.

2 Mergers, demergers and conversions of insurance companies are also subject to authorisation.