publication . Article . Preprint . 2007

Switzerland: Financial Sector Assessment Program - Factual Update: Insurance Sector Market and Regulatory Developments

International Monetary Fund;
Open Access
  • Published: 13 Jun 2007 Journal: IMF Staff Country Reports, volume 7, page 1 (issn: 1934-7685, Copyright policy)
  • Publisher: International Monetary Fund (IMF)
Abstract
This paper presents a factual update of the Insurance Core Principles including insurance sector market and regulatory developments for Switzerland. Regulatory reforms since 2003 have updated Switzerland’s regulatory and supervisory regime for the insurance industry to bring it in line with international best practices. The Insurance Supervision Law (ISL) has reoriented the regulatory focus and expanded the regulatory scope to include group/conglomerate supervision, corporate governance, risk management, and market conduct of insurance intermediaries. The ISL also provides for a range of corrective and preventive regulatory measures.
Persistent Identifiers
Subjects
free text keywords: Financial Sector Assessment Program;Anti-money laundering;Combating the financing of terrorism;Insurance regulations;Insurance supervision;Switzerland;life insurers, life insurance, risk management, insurance companies, reinsurance
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