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efficiently (Art. 100 SO).3
When using derivatives, the insurance company may not take any risks that are inappropriate
to the scope of business and risk capacity of the insurance company. The use of derivatives
should also be aimed at achieving a sustainable effect.4
b) Obligation to provide cover when using derivat... | What is the requirement for an insurance company when using derivatives according to Art. 100 SO? | 1. The risks taken with derivatives must be appropriate to the scope of business and risk capacity of the insurance company.
2. The use of derivatives should aim for a sustainable effect.
3. All obligations arising from derivative financial transactions must be covered at all times and in full, either by the un... |
efficiently (Art. 100 SO).3
When using derivatives, the insurance company may not take any risks that are inappropriate
to the scope of business and risk capacity of the insurance company. The use of derivatives
should also be aimed at achieving a sustainable effect.4
b) Obligation to provide cover when using derivat... | What types of risks are inappropriate for an insurance company when using derivatives? | An insurance company should not take any risks with derivatives that are inappropriate to the scope of its business and risk capacity. |
efficiently (Art. 100 SO).3
When using derivatives, the insurance company may not take any risks that are inappropriate
to the scope of business and risk capacity of the insurance company. The use of derivatives
should also be aimed at achieving a sustainable effect.4
b) Obligation to provide cover when using derivat... | What is the goal of using derivatives for an insurance company? | The goal of using derivatives for an insurance company is to achieve a sustainable effect and not take any risks that are inappropriate to the scope of business and risk capacity. All obligations arising from derivative financial transactions must be covered at all times and in full either by the underlying assets or b... |
efficiently (Art. 100 SO).3
When using derivatives, the insurance company may not take any risks that are inappropriate
to the scope of business and risk capacity of the insurance company. The use of derivatives
should also be aimed at achieving a sustainable effect.4
b) Obligation to provide cover when using derivat... | What are the obligations that must be covered when using derivatives according to Art. 100 para. 2 SO? | All obligations that may arise from derivative financial transactions must be covered in full at all times either by the underlying assets on which the derivatives are based or by liquidity. This includes both cash and cash equivalents, such as cash deposits, government bonds with a minimum credit rating of 2 and very ... |
efficiently (Art. 100 SO).3
When using derivatives, the insurance company may not take any risks that are inappropriate
to the scope of business and risk capacity of the insurance company. The use of derivatives
should also be aimed at achieving a sustainable effect.4
b) Obligation to provide cover when using derivat... | In what ways can an insurance company cover its obligations when using derivatives with an obligation to sell? | An insurance company can cover its obligations when using derivatives with an obligation to sell by holding the underlying assets on which the derivatives are based. |
efficiently (Art. 100 SO).3
When using derivatives, the insurance company may not take any risks that are inappropriate
to the scope of business and risk capacity of the insurance company. The use of derivatives
should also be aimed at achieving a sustainable effect.4
b) Obligation to provide cover when using derivat... | In what ways can an insurance company cover its obligations when using derivatives with an obligation to buy? | The insurance company can cover its obligations when using derivatives with an obligation to buy by having sufficient liquidity, which includes both cash and cash equivalents. |
efficiently (Art. 100 SO).3
When using derivatives, the insurance company may not take any risks that are inappropriate
to the scope of business and risk capacity of the insurance company. The use of derivatives
should also be aimed at achieving a sustainable effect.4
b) Obligation to provide cover when using derivat... | What are considered cash equivalents according to the text? | Cash equivalents include cash deposits, government bonds with a minimum credit rating of 2 and very good liquidity, and receivables that are exempt from the counterparty limit. |
efficiently (Art. 100 SO).3
When using derivatives, the insurance company may not take any risks that are inappropriate
to the scope of business and risk capacity of the insurance company. The use of derivatives
should also be aimed at achieving a sustainable effect.4
b) Obligation to provide cover when using derivat... | What are the minimum credit rating and liquidity requirements for government bonds to be considered funds? | The minimum credit rating for government bonds to be considered funds is 2 and they must have very good liquidity. |
efficiently (Art. 100 SO).3
When using derivatives, the insurance company may not take any risks that are inappropriate
to the scope of business and risk capacity of the insurance company. The use of derivatives
should also be aimed at achieving a sustainable effect.4
b) Obligation to provide cover when using derivat... | What types of receivables are exempt from the counterparty limit and are considered cash equivalents? | Receivables that are exempt from the counterparty limit are considered cash equivalents. |
restriction - securities lending in relation to the underlying assets and repurchase
agreements (repo, reverse repo) in connection with derivative transactions are not
permitted. Lent securities are an exception if the short-term recall of these securities is
possible without restriction. The increased operational r... | What types of securities lending and repurchase agreements (repo, reverse repo) are not permitted in relation to derivative transactions? | The text states that restriction on securities lending and repo/reverse repo agreements in relation to derivative transactions include those where the underlying assets are not possible to recall without restriction. Lent securities are an exception if the short-term recall is allowed. Derivatives with a purchase or ac... |
restriction - securities lending in relation to the underlying assets and repurchase
agreements (repo, reverse repo) in connection with derivative transactions are not
permitted. Lent securities are an exception if the short-term recall of these securities is
possible without restriction. The increased operational r... | What is the exception to the prohibition of lending securities for derivative transactions? | The exception to the prohibition of lending securities for derivative transactions is when the short-term recall of these securities is possible without restriction. |
restriction - securities lending in relation to the underlying assets and repurchase
agreements (repo, reverse repo) in connection with derivative transactions are not
permitted. Lent securities are an exception if the short-term recall of these securities is
possible without restriction. The increased operational r... | What operational risks must be taken into account for securities lending and repo transactions in relation to derivative deals? | The increased operational risks arising from securities lending and repo transactions in relation to derivative deals must be taken into account. Specifically, restriction on lending securities for these transactions, double use of liquidity or underlying assets, and the requirement for full coverage of obligations for... |
restriction - securities lending in relation to the underlying assets and repurchase
agreements (repo, reverse repo) in connection with derivative transactions are not
permitted. Lent securities are an exception if the short-term recall of these securities is
possible without restriction. The increased operational r... | What is the maximum percentage of market value that can be covered by liquidity other than the underlying investment for derivatives with a purchase obligation? | Cash equivalents, with the exception of cash deposits in accordance with margin nos. 181-185, may only be used as cover to the extent of 90% of the market value. |
restriction - securities lending in relation to the underlying assets and repurchase
agreements (repo, reverse repo) in connection with derivative transactions are not
permitted. Lent securities are an exception if the short-term recall of these securities is
possible without restriction. The increased operational r... | What is the requirement for liquidity availability for derivatives with a purchase obligation? | For derivatives with a purchase obligation, the liquidity required to fulfill the obligation must be available at all times. |
restriction - securities lending in relation to the underlying assets and repurchase
agreements (repo, reverse repo) in connection with derivative transactions are not
permitted. Lent securities are an exception if the short-term recall of these securities is
possible without restriction. The increased operational r... | What is the requirement for underlying investment availability for derivatives with a delivery obligation? | For derivatives with a delivery obligation, the underlying investment must be available at all times and without restriction to fulfill the obligation. |
restriction - securities lending in relation to the underlying assets and repurchase
agreements (repo, reverse repo) in connection with derivative transactions are not
permitted. Lent securities are an exception if the short-term recall of these securities is
possible without restriction. The increased operational r... | What is the definition of 'extensive coverage' for index derivatives? | In the context of index derivatives, 'extensive coverage' refers to the obligations being deemed to be covered if there is an extensive or sufficient amount of underlying assets or liquidity available to fulfill the obligations. |
and stable correlation between the underlying assets held and the index.13
If there is a contractual right to satisfy an obligation entered into by means of a cash payment
instead of delivery of the deliverable underlying, the physically deliverable underlying must
nevertheless be held.14
If cash settlement is mandat... | What is the requirement for holding underlying assets when cash settlement is not mandatory? | 13, 16 and 17 of the text state that underlying assets must be held when cash settlement is not mandatory for derivatives. Specifically, for physically deliverable underlying assets, they must be held regardless of cash settlement (13). For derivatives with an obligation to exchange cash flows, the cash flow to be paid... |
and stable correlation between the underlying assets held and the index.13
If there is a contractual right to satisfy an obligation entered into by means of a cash payment
instead of delivery of the deliverable underlying, the physically deliverable underlying must
nevertheless be held.14
If cash settlement is mandat... | What must be held when there is a contractual right for cash settlement instead of physical delivery? | The physically deliverable underlying must be held in full at all times. |
and stable correlation between the underlying assets held and the index.13
If there is a contractual right to satisfy an obligation entered into by means of a cash payment
instead of delivery of the deliverable underlying, the physically deliverable underlying must
nevertheless be held.14
If cash settlement is mandat... | What is the necessity for maintaining liquidity for underlyings that cannot be physically delivered? | 14, 15: If cash settlement is mandatory for underlyings that cannot be physically delivered, the necessary liquidity must be maintained in full at all times in the event of an obligation to sell such derivatives. |
and stable correlation between the underlying assets held and the index.13
If there is a contractual right to satisfy an obligation entered into by means of a cash payment
instead of delivery of the deliverable underlying, the physically deliverable underlying must
nevertheless be held.14
If cash settlement is mandat... | What is the requirement for ensuring cash flows for derivatives with an obligation to exchange cash flows? | The cash flow to be paid must be ensured with the necessary liquidity or underlying. |
and stable correlation between the underlying assets held and the index.13
If there is a contractual right to satisfy an obligation entered into by means of a cash payment
instead of delivery of the deliverable underlying, the physically deliverable underlying must
nevertheless be held.14
If cash settlement is mandat... | What must be covered for the fulfillment of obligations in the case of combinations of derivatives? | The obligations of the entire combination for the fulfillment of obligations must be covered at all times by underlying assets or liquidity available in the assets. The underlyings of the combinations must be identical to the underlyings used as cover. |
and stable correlation between the underlying assets held and the index.13
If there is a contractual right to satisfy an obligation entered into by means of a cash payment
instead of delivery of the deliverable underlying, the physically deliverable underlying must
nevertheless be held.14
If cash settlement is mandat... | What qualifications and knowledge are required for insurance undertakings using derivative financial instruments? | Insurance undertakings that use derivative financial instruments must have qualified and knowledgeable staff. |
and stable correlation between the underlying assets held and the index.13
If there is a contractual right to satisfy an obligation entered into by means of a cash payment
instead of delivery of the deliverable underlying, the physically deliverable underlying must
nevertheless be held.14
If cash settlement is mandat... | What is the necessity for an appropriately designed investment strategy for insurance undertakings using derivative financial instruments? | Insurance undertakings that use derivative financial instruments must have an appropriately designed investment strategy. |
and stable correlation between the underlying assets held and the index.13
If there is a contractual right to satisfy an obligation entered into by means of a cash payment
instead of delivery of the deliverable underlying, the physically deliverable underlying must
nevertheless be held.14
If cash settlement is mandat... | What is the requirement for an investment management system tailored to the specific needs of insurance undertakings using derivative financial instruments? | An insurance undertaking that uses derivative financial instruments must have a fully implemented and documented investment management system tailored to their specific needs. |
and stable correlation between the underlying assets held and the index.13
If there is a contractual right to satisfy an obligation entered into by means of a cash payment
instead of delivery of the deliverable underlying, the physically deliverable underlying must
nevertheless be held.14
If cash settlement is mandat... | What must be fully implemented and documented for insurance undertakings using derivative financial instruments? | an appropriately designed investment strategy, an investment management system tailored to their specific needs. |
be submitted to the Board of Directors at least every six months.22
III General principles for tied assets
A. Definition, purpose and obligation to appoint
The values in the tied assets represent based on the
The assets secure the claims of the insured persons based on the reported technical 23 | What is the frequency with which the tied assets must be submitted to the Board of Directors? | The tied assets must be submitted to the Board of Directors at least every six months. |
be submitted to the Board of Directors at least every six months.22
III General principles for tied assets
A. Definition, purpose and obligation to appoint
The values in the tied assets represent based on the
The assets secure the claims of the insured persons based on the reported technical 23 | What is the definition, purpose, and obligation to appoint tied assets? | 1. Definition: Tied assets are assets that secure the claims of insured persons based on the reported technical provisions.
2. Purpose: The purpose of tied assets is to ensure that the insurer has sufficient assets to meet its obligations to policyholders.
3. Obligation to appoint: The tied assets must be submi... |
be submitted to the Board of Directors at least every six months.22
III General principles for tied assets
A. Definition, purpose and obligation to appoint
The values in the tied assets represent based on the
The assets secure the claims of the insured persons based on the reported technical 23 | On what basis are the values in the tied assets determined? | The values in the tied assets are determined based on the reported technical provisions. |
be submitted to the Board of Directors at least every six months.22
III General principles for tied assets
A. Definition, purpose and obligation to appoint
The values in the tied assets represent based on the
The assets secure the claims of the insured persons based on the reported technical 23 | Who determines the value of the tied assets? | The values of the tied assets are based on the reported technical values. |
be submitted to the Board of Directors at least every six months.22
III General principles for tied assets
A. Definition, purpose and obligation to appoint
The values in the tied assets represent based on the
The assets secure the claims of the insured persons based on the reported technical 23 | Where should the tied assets be reported to? | The tied assets should be reported to the Board of Directors. |
be submitted to the Board of Directors at least every six months.22
III General principles for tied assets
A. Definition, purpose and obligation to appoint
The values in the tied assets represent based on the
The assets secure the claims of the insured persons based on the reported technical 23 | What is the requirement for reporting tied assets to the Board of Directors? | The requirement is for the tied assets to be submitted to the Board of Directors at least every six months. |
be submitted to the Board of Directors at least every six months.22
III General principles for tied assets
A. Definition, purpose and obligation to appoint
The values in the tied assets represent based on the
The assets secure the claims of the insured persons based on the reported technical 23 | What should be reported to the Board of Directors regarding changes in tied assets? | The text does not explicitly state that changes in tied assets should be reported to the Board of Directors at specific intervals. However, it does mention that the values in the tied assets should be reported to the Board at least every six months. |
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