Surrender of licence and end of supervision

An insurance company supervised by SFMA can opt to surrender its licence. However, it remains subject to supervision until it has met all its obligations under supervisory law.

This SFMA page gives applicants and supervised institutions a practical view of the surrender of licence and end of supervision topic. It explains when a licence, approval, notification or registration may be needed, what information should be prepared, and which changes may require contact with the authority.

Run-off plan

This section explains how run-off plan affects the surrender of licence and end of supervision authorisation or registration topic. The relevant facts should be documented in a way that allows SFMA to understand the legal basis, operating responsibilities and supervisory implications.

No new insurance contracts

Insurance-specific reviews consider the classes of insurance, policyholder protection, business plan, solvency, technical provisions, reinsurance, distribution arrangements and the ability to administer claims and contracts reliably.

Supervision ends only after all obligations have been met

Material changes should be assessed before implementation. Changes in ownership, management, organisation, business activity, documents, outsourcing, risk models or the decision to stop a licensed activity can require prior approval or notification. Applicants and licence holders should keep the authorisation basis aligned with their actual operating model.

Preparing a complete file

Applicants should keep the submission concise but complete: describe the activity, legal structure, people responsible, control framework, financial resources, relevant documents and any cross-border elements. Where uncertainty remains, the issue should be highlighted early rather than left to emerge during review.