Periodic collection of data
Once a year FINMA collects extensive financial reporting data from all the insurance companies it supervises. Upon request, insurance companies are also obliged to provide FINMA with additional information and to meet their regulatory reporting requirements.
Every year at the end of April, FINMA collects extensive data from insurance companies on balance sheets and income statements for the previous year. In contrast to the Swiss Solvency Test (SST), which uses market (or market-consistent) values, this data is based on statutory values defined in the Swiss Code of Obligations.
Insurance companies can send their data to FINMA via an online delivery platform. FINMA also receives annual reports from audit firms.
Collecting data from insurance groups and conglomerates
Every six months, at the end of April and September, FINMA collects extensive data on the consolidated balance sheets and income statements of insurance groups and conglomerates. This data is based on international financial reporting standards (IFRS or US GAAP).
