English translation of article 73 of the Swiss Insurance Supervision Act

Placement under conglomerate supervision

Chapter 6: Special provisions regarding the supervision of insurance groups and insurance conglomerates
Section 2: Insurance conglomerates
> Art. 72 Insurance conglomerate

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 73 of the Swiss Insurance Supervision Act 

Placement under conglomerate supervision

1 FINMA may place an insurance conglomerate that has an undertaking in Switzerland under conglomerate supervision, if the insurance conglomerate:

a. is actually managed from Switzerland;

b. is actually managed from a foreign country, without however being subject there to an equivalent conglomerate supervision.

2 If other foreign authorities claim concurrent partial or full supervision of the insurance conglomerate, FINMA shall, whilst maintaining its own competences and with due regard to any possible group supervision, come to an agreement with them on competences, terms of procedure and scope of the supervision. Prior to its decision, it shall consult with those companies of the insurance conglomerate having their registered office in Switzerland.