English translation of article 79bis of the Swiss Insurance Supervision Act

Bankruptcy

Chapter 6: Special provisions regarding the supervision of insurance groups and insurance conglomerates
Section 2: Insurance conglomerates
> Art. 79 Duty of information

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 79bis of the Swiss Insurance Supervision Act 

Bankruptcy

1 Articles 53-54e shall apply by analogy to a conglomerate company domiciled in Switzerland that performs important functions for the activities subject to authorisation and that is not subject, in the context of the entity’s individual supervision pursuant to the financial market acts, to the bankruptcy competence of FINMA (significant conglomerate company).

2 The Federal Council shall determine the criteria for the evaluation of the measure of significance.

3 FINMA shall designate the significant conglomerate companies and shall maintain a list thereof. This list shall be publicly available.
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