Swiss (re)insurers are generally prohibited from conducting business not directly linked to the insurance business. The dispatch of the Swiss Federal Council on the partial revision of the Insurance Supervision Act states that the current prohibition of insurance companies to conduct non-insurance business will remain in place. At the same time, the partial revision of the Insurance Supervision Act aims to enhance the competitiveness of the Swiss insurance sector and to further innovative business models. To overcome this conflict of objectives, the authors argue for a narrow interpretation of the prohibition on the conduct of non-insurance business and outline ways for insurers to operate non-insurance business.

By Hansjürg Appenzeller / Kevin M. Hubacher (Reference: CapLaw-2021-31)