Market

Switzerland reinsurance: FINMA flavour, Zurich desks, Zug vehicles, and SST files

Zurich underwrites and Zug often holds the company. FINMA and the Swiss Solvency Test flavour the pack; this page does not invent a FINMA licence for Reinsured.AI. The ops work is CHF and EUR wordings, SST inputs, and bordereaux that still have to match the signed treaty.

Switzerland's reinsurance market is a split address book. Underwriting, claims, and broker meetings often sit in Zurich. Holding companies, intra-group reinsurers, and some captives sit in Zug or other cantons. FINMA supervises the regulated entities. The Swiss Solvency Test flavours the capital conversation in a way Solvency II flavours Dublin. This page uses that flavour. It does not invent a FINMA authorisation for Reinsured.AI, and it does not list a Paradeplatz or a Zug registered office as if we were a Swiss carrier.

Placing customs are company-market and relationship-heavy. Continental European cedents send 1 January programmes to Zurich writers who may retrocede to a Bermuda or London sister, or to a Zug intra-group vehicle. The slip may be English. The accounts may be CHF. The territorial clause may be worldwide excluding US, or Europe including Switzerland, or a manuscript list of cantons and neighbouring states. Alpine flood, hail, and winter storm are not a Gulf hurricane file with a mountain adjective. Treaty reinsurance is the ops hub for those wordings. The Actuarial Agent is the named worker for pricing reports, triangles, and assumption memos as documents with spans — not for running SST.

Facultative still appears for a Swiss contractor or a German industrial that blows the treaty. That pack is facultative reinsurance. The brokers hub is how it should be built before it lands in a Zurich inbox. Do not drop a facultative ACME certificate into the Swiss quota-share bordereau because the name matched.

FINMA flavour and the Zurich–Zug split

FINMA expects the undertaking to know its contracts. That is not a software slogan. It is why a broker summary titled Final_v7 is not the system of record. The signed wording, the endorsement that moved the attachment, and the intra-group retrocession agreement with the Zug company are three documents. If the Zurich desk quotes 30 percent and the Zug agreement says 25 percent after a late amendment, SST inputs that used 30 percent are a story about the wrong treaty.

Intra-group retrocession is the Swiss-specific leak. A Zurich writer cedes a share to a group vehicle in Zug. Bordereaux must be producible for both. If the Zug agreement excludes US casualty and the inbound cedent bordereau still contains it, those rows are exceptions. They are not "close enough for group reporting." Netting them in one CHF sheet because both entities share a letterhead is how you discover the extra class at the loss.

Events still set the Monte Carlo conversation for these 1/1 programmes. Zurich is often the underwriting table. Zug is often the booking entity. A Rendez-Vous note is not the signed share.

SST inputs are documents

SST is the undertaking's model. This product does not file it and does not replace a capital model. The honest connection is the same as any other solvency pack: recoverables, shares, attachments, collateral, and dispute flags have to come from cited contracts. If the actuarial memo assumes two free reinstatements and endorsement 3 made the second paid, the SST run will be fluent and wrong.

Typical Zurich-desk documents:

• Treaty wordings in English or German, sometimes with a French translation that must not silently win
• Endorsements that change attachment, hours, or commission after the placing slip
• Intra-group retrocession agreements with Zug or other group vehicles
• Subject premium, large-loss listings, and bordereaux in CHF, EUR, or USD without a rate as-at
• Actuarial reports, triangles, and assumption memos as PDFs
• SST and FINMA reporting extracts as files to read, not as filings we submit
• SOVs and loss runs when facultative or special acceptances sit beside the treaty

Bilingual conflict is ordinary. The German wording cites a 72-hour clause. The English broker slip cites 96 hours. Someone books 96 because the email was in English. The German text governs if that is the signed contract. Show both spans. Do not pick the language of the last meeting.

The illustration of Zurich inbound files, labelled as an illustration and not as customer proof, is the Zurich reinsurer bordereaux illustration. It is not a FINMA outcome and not a logo wall.

ACME Construction Ltd between Bahnhofstrasse and Zug

Walk a fictional file. ACME Construction Ltd, domain acme.example, is a contractor with a Zurich loft conversion and an Alpine tunnel job in Uri. A Zurich-authorised reinsurer writes a 1/1 20 percent quota share, class construction, territory Switzerland and Liechtenstein, accounts in CHF. The inbound premium bordereau includes an Austrian site booked through a Vienna subsidiary. The covering email uses a ceding commission from last year's PowerPoint. The Zug intra-group retrocession excludes tunnelling. The Uri job is tunnelling.

The Austrian row is a territorial exception unless a special acceptance exists as a document. The commission is the wording rate until someone endorses it. The Uri job may be on the Zurich treaty and off the Zug retro. That is two mappings, not one TIV. Reinsurance AI is the rule: cite the wording, then the cell, then book.

This page will not invent a FINMA licence. It will not publish an SST ratio or an ROI percentage. It will not display carrier logos. Zurich remains an underwriting market and Zug remains a frequent vehicle domicile. Software can keep the CHF bordereau, the German hours clause, and the Zug exclusion on the same year.