Regulatory Alerts2024-06-26
FINMA Circular 2016/2 Disclosure - insurers Principles for the financial condition report
The Swiss Financial Market Supervisory Authority (FINMA) issues this circular to define the minimum requirements for the financial condition report that supervised insurance companies, groups, and conglomerates must publish. The document mandates comprehensive narrative and quantitative disclosures covering business activities, performance, corporate governance, risk profiles, valuation methods, capital management, and solvency, while also introducing specific requirements for climate-related financial risks. It further establishes the responsibility of executive bodies for signing off the report and outlines procedures for making the disclosure available to FINMA upon publication.
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