Insurers

Enterprise Risk Management: time to shift gear

Chief Risk Officers of (re)insurance companies are presented with a long awaited opportunity to reposition the profile of their function and create value for customers, shareholders and the public at large but their departments need to evolve rapidly to cope with the challenges this entails.
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Impact of global and Swiss tax changes on the insurance industry

There are a few upcoming regulatory tax projects which will affect the Swiss insurance industry. On a global level these include the latest tax risks facing the industry in light of the OECD’s base erosion and profit shifting (BEPS) reports. On a national level the focus is on the Swiss Corporate Tax Reform III.
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Evolution or revolution for Swiss insurers?

The word ‘change’ conjures up a myriad images and expectations. For some, it represents a threat. For others, it is possibility and potential. Which one it turns out to be for Swiss non-life insurers depends on how they grasp the need for transformation amid current challenges to the status quo.
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Cyber Insurance: The next big thing in Switzerland?

The risk of being the victim of a cyber attack has risen sharply in recent years. Against the damage caused by such attacks, firms can protect themselves with so-called cyber insurance. What services do Cyber Insurances offer, who can assure and what should firms know before completing a policy?
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Swiss ORSA – The Insurance Market Reaction

Following the recent issue of a new FINMA circular on ORSA, KPMG Switzerland surveyed leading Swiss insurers to evaluate their response to the new requirements and assess preparedness to comply. Results varied significantly, but one thing is clear: there is still work to be done!
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What is the future of the Swiss Solvency Test?

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.
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