Management change at the Swiss Insurance Association

At the annual general meeting held on 11 June in Winterthur, Albert Lauper, chairman of the Board of Directors of Mobiliar, was elected to serve as chairman of the Swiss Insurance Association (SIA). Mr Lauper has held the position of deputy chairman of the association since May 2000.

Winterthur, 11 June 2003 – In his speech, outgoing chairman Hansjörg Frei described how the Swiss insurance industry has evolved over the last two decades. He made a strong plea to the government to come to a rapid decision on setting a minimum interest rate for the BVG (Swiss Federal Law on Occupational Retirement, Survivors’ and Disability Pension Plans), in order to ensure that a clear framework existed within which to conduct BVG-regulated business. He also emphasised that the insurance industry considers the current conversion rate ("Umwandlungssatz") to be too high, stating that it needed to be brought into line with increased life expectancy more rapidly and more consistently than is envisaged under the revised BVG.

Guest speaker, Herbert Lüthy, Director of the Federal Office of Private Insurance, elaborated on the revision of insurance supervision in Switzerland and on the transition to an integrated framework for financial market regulation.

Urs Berger, Mobiliar, Rolf Dörig, Rentenanstalt/Swiss Life, Philippe Egger, Winterthur Versicherungen, Alfred Leu, Generali Group, and Martin Strobel, Basler Versicherungen were also elected to the SIA Board.