KPMG’s Center for Insurance Regulation

The center for matters related to insurance regulation in Switzerland and Liechtenstein.

KPMG's Center for Insurance Regulation provides in-depth information of the current regulatory framework as well as on regulatory developments and challenges. As ambitious thought leaders, we publish a wide range of studies and factsheets.

We are convinced that insurance regulation can only be dealt with meaningfully by a multi-disciplinary approach. This is why we have bundled critical functions such as Legal, Regulatory, Compliance, Risk, Actuarial, Audit, Tax, and Sustainability.

Our experts share relevant insights as well as independent and fresh perspectives with non-life and life insurance companies, health and accident insurers, reinsurers, captives, and brokers to develop innovative and proactive solution approaches.

You can rely on our long-standing industry and consulting expertise.

Alexander Lacher

Partner, Financial Services, Insurance Regulatory & Compliance

KPMG Switzerland

Current topics and developments

Revision of the Swiss Insurance Supervision Act

The Swiss Federal Council enacted the revised Insurance Supervision Act and the revised Insurance Supervision Ordinance as of 1 January 2024. 

The revised insurance supervisory law anchors a customer protection-based supervisory concept, profoundly changes the insurance intermediation regulation, creates a new reorganization regime, and provides clarifications concerning solvency and tied assets.

Other changes are a formal restructuring of the current regulation between the different levels of legislation (ISO, ISO-FINMA and FINMA circulars).

It is important to note that the revised insurance supervision law provides for transitional periods in various areas. This offers insurance companies the opportunity to adapt to the new requirements and adjust their business models accordingly. 

Given the importance, complexity and depth of the key changes, KPMG recommends insurers swift action.

Intermediary supervision

One of the main aims of the partial revision of the Insurance Supervision Act (ISA) is to strengthen consumer protection. To this end, the legislator is introducing extensive licensing and conduct rules for insurance intermediaries. This significant tightening of supervision is a challenge for the insurance industry. In our factsheet, we outline the specific areas of action and provide support.

Berne Financial Services Agreement

The UK and Switzerland have negotiated a mutual recognition agreement (MRA) (UK publication/ Swiss publication). This agreement promises unprecedented market access for wholesale insurers and intermediaries. Explore the transformative potential of reduced regulatory hurdles and discover the key beneficiaries of this landmark agreement.

ESG Regulation

In Europe, insurers have been implementing binding sustainability standards for some time. Swiss insurers face a similar regulatory challenge, with many requirements still to be defined. We aim to provide guidance, highlight specific areas to address and offer support.

Limited Qualified Investor Fund (L-QIF)

The launch of the Limited Qualified Investor Fund (L-QIF) in Switzerland marks a significant development in the investment landscape, offering qualified investors a flexible, time- and cost-efficient investment vehicle. In our factsheet, we outline the key features, legal forms, and fundamental structure of this innovative investment instrument.

Regulatory Outlook

  • ICS
  • Money laundering
  • DORA

Our range of services

  • Licensing/establishment of a Swiss or Liechtenstein location
    Are you planning to establish a new insurance company, a subsidiary or branch in Switzerland or the Principality of Liechtenstein? KPMG's Center for Insurance Regulation can guide you through the process of setting up your business in Switzerland or the Principality of Liechtenstein, be it licensing, regulatory or technical issues.
  • Impact and readiness checks
    Are you uncertain about the extent to which your organization will be affected by a new regulation coming into force? Do you want to assess the readiness of your organization for such changes? We provide independent impact and gap assessments to enable a targeted implementation.

  • Post-implementation checks
    Have you recently implemented a new regulation and wish to ensure that your compliance management is up to date? We will review your documentation and point out possible gaps and potential compliance risks.

  • Regulatory project management
    We can develop, support and manage regulatory projects to ensure tailor-made compliance. 
Our services for insurers and current regulatory issues

Our services for insurers and current regulatory issues

Service offering insurance

Contact our experts for more information

New regulations significantly impact daily operations in various sectors of your company. It's crucial to closely monitor the legal and regulatory landscape.

Alexander Lacher

Partner, Financial Services, Insurance Regulatory & Compliance

KPMG Switzerland

Thomas Schneider

Partner, Sector Head Insurance

KPMG Switzerland

Sébastien Loesch

Partner, Life Actuarial & Insurance Risk

KPMG Switzerland

William Southwell

Partner, Head of Actuarial and Insurance Risk

KPMG Switzerland

Oliver Windhör

Partner, Financial Services

KPMG Switzerland

Thomas Brotzer

Head Financial Services Tax Switzerland, Global Head Insurance Tax, Member of the Board of Directors

KPMG Switzerland

Lars Klossack

Partner Audit, Location Leader

KPMG Switzerland

Patrick Schmucki

Director, Financial Services, Corporate Responsibility Officer

KPMG Switzerland

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