The financial services market has not ever been as regulated as it is today. The variety of new regulations and the speed of the corresponding international developments are challenging. How companies view these – opportunities?, challenges? – may determine the winners and losers of the future.
Switzerland’s reinsurance industry is undergoing a significant transformation, with reinsurers responding at varying speeds to the changing landscape. Our new publication “Clarity on Reinsurance: An industry in upheaval” shines a spotlight on some of the opportunities and challenges facing reinsurers today.
On 8 July 2015, the Swiss Financial Market Supervisory Authority FINMA put a revised package of circulars out for consultation. Many proposed changes have a direct and indirect impact on the Swiss Solvency Test (SST) and its use by Swiss insurers. The most significant impacts arise from the newly released circulars on public disclosure and ORSA.