Regulatory Alerts2024-06-26
FINMA Circular 2017/5 Business Plans - Insurers
The Swiss Financial Market Supervisory Authority (FINMA) issued Circular 2017/5 to specify the requirements for business plans submitted by insurance companies seeking initial authorization or changes to existing plans. The document details mandatory disclosures regarding statutes, organization, foreign activities, financial provisioning, and risk management, while introducing updated rules for actuarial reserves and capital strategy. It establishes a comprehensive framework for supervisory review to ensure the financial soundness and operational stability of insurers operating in Switzerland.
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