SWI FINMA Swiss Solvency Test Guide


On Oct. 30, SWI FINMA issued guide for insurance companies re SST.


  • SWI FINMA issued guidelines for insurance companies, insurance groups and conglomerates regarding the correct reporting of the Swiss Solvency Test (SST).
  • Main Points
  • Guidelines based on the revised Insurance Supervision Act (VAG; SR 961.01) and the revised Supervision Ordinance (AVO; SR 961.011) coming into force on Jan. 1, 2024.
  • The new definitions of risk-bearing capital (RTK) and target capital (ZK) will be implemented in the technical descriptions, templates and tools for the SST 2024.
  • Adjustments made to the technical description of aggregation and minimum amount.
  • Also, to the standard damage, market risk model and the standard credit risk model.
  • Templates and tools for SST calculation and reporting are available on SST's website.
  • All insurance companies submit a version of the SST report signed by management.
  • SST report can be submitted by post or as an attachment with an electronic signature.
  • Technical specifications for the submission of electronic documents and Excel files.
  • Effectiveness
  • The 2024 SST report must be submitted to SWI FINMA by Apr. 30, 2023.
  • In Jan. 2024, SWI FINMA issued Swiss Solvency Test 2024 fact sheet, see #198818.

Regulators SWI FINMA
Entity Types Auditor; IB; Ins
Reference Gd, 10/30/2023; VAG; AVO
Functions Compliance; Legal; Operations; Reinsurance; Reporting; Risk; Treasury
Countries Switzerland
Category
State
Products Insurance; Insurance-Casualty; Insurance-Health; Insurance-Life; Insurance-Property
Regions EMEA
Rule Type Final
Rule Date 10/30/2023
Effective Date 4/30/2024
Rule Id 189776
Linked to N/A
Reg. Last Update 10/30/2023
Report Section EU

Last substantive update on 11/01/2023