Switzerland's Federal Department of Finance published the Federal Council’s dispatch proposing amendments to the Insurance Oversight Act to exempt intermediaries brokering reinsurance contracts from the duty to register with the Swiss Financial Market Supervisory Authority (FINMA) and from FINMA supervision, with the stated aim of strengthening Switzerland as a reinsurance location. The Federal Council argues that the revised Insurance Oversight Act, in force since 1 January 2024, has unintentionally harmed the competitiveness of Swiss reinsurance companies by requiring insurers to work with independent insurance intermediaries only if they are registered with FINMA. In reinsurance, the dispatch notes, internationally oriented and specialised foreign intermediaries are not always registered in Switzerland, which has led them to avoid Swiss reinsurers and business to shift abroad. The exemption is framed as appropriate because reinsurance is conducted between insurance companies and does not affect end-client protection; the proposal implements motion 24.3208 and also makes selected technical amendments to the Act. The underlying proposal was supported by all consultation participants in the May to September 2025 consultation, while additional recommended changes to the Act will not be taken forward.

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