Swiss regulator halts Zurich Insurance policy sales over pricing errors

The investigation centers on discrepancies between the premiums charged to domestic customers and the pricing structures previously approved by the authorities. Under the current restrictions, the insurer’s corporate life and pensions unit is prohibited from onboarding new clients, limiting its operations exclusively to servicing existing policyholders. While FINMA maintains a policy of not commenting on specific ongoing investigations, it confirmed that it systematically probes potential violations of financial market laws.

Zurich Insurance CEO Mario Greco stated that the sales ban would not affect the group's overall financial performance. Despite this assessment, the company has begun internal restructuring, resulting in the termination of more than 12 employees linked to the units under scrutiny. The duration of the regulatory proceedings remains undisclosed, leaving the firm in a state of operational limbo as it addresses the pricing non-compliance.