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.
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.
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.