English translation of article 5 of the Swiss Insurance Supervision Act

Amendments to the business plan

Chapter 2: Taking up insurance activities
Section 1: Authorisation
> Art. 4 Amendments to the business plan
< Art. 6 Issue of the authorisation

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 5 of the Swiss Insurance Supervision Act 

Amendments to the business plan

1 Amendments concerning the elements of the business plan specified under article 4 paragraph 2 letters a, h, k and r shall be submitted to FINMA for approval prior to their implementation. Amendments to the business plan resulting from mergers, demergers and conversions of insurance companies shall also be submitted for approval.

2 Amendments concerning the elements of the business plan specified under article 4 paragraph 2 letters b, c, d, f, g, j, l, m, n and q shall be notified to FINMA; they shall be considered as accepted, if FINMA does not introduce an examination procedure within four weeks.
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