English translation of article 6 of the Swiss Insurance Supervision Act

Issue of the authorisation

Chapter 2: Taking up insurance activities
Section 1: Authorisation
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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 6 of the Swiss Insurance Supervision Act 

Issue of the authorisation

1 The authorisation is issued if the legal requirements are fulfilled and if the interests of the insured are safeguarded.

2 If the insurance company is part of a foreign insurance group or a foreign insurance conglomerate, the authorisation can be made conditional upon the existence of appropriate consolidated supervision by a foreign financial market supervisory authority.

3 The authorisation is issued for one or more insurance lines. It also entitles to the conduct of reinsurance activities in the relevant insurance line. The Federal Council shall define the insurance lines.

4 FINMA shall publish the issued authorisations.