Zurich Insurance FINMA pension enforcement

In late July 2026, Switzerland’s regulator FINMA opened an enforcement investigation into Zurich Insurance’s occupational‑pension business linked to the collective foundation Vita, focusing on internal‑control gaps, fee appropriateness and possible conflicts of interest. The probe prompted early personnel changes, including the departure of former Swiss head Juan Beer.

By early August 2026 FINMA escalated the case, finding that Zurich had used unapproved tariffs for years, concealed the breaches, missed regulator deadlines and continued to accept new pension business despite orders. On 2 August 2026 the regulator formally opened an enforcement procedure and imposed a temporary ban on Zurich’s Swiss unit from acquiring additional pension customers.

Group CEO Mario Greco reiterated a zero‑tolerance stance, dismissing Beer and several senior managers. The enforcement has accelerated a restructuring that will transfer death and disability risk to the Vita‑Sammelstiftung by 2028, a move expected to lower policyholder premiums by 10‑20 % and increase competitive pressure on other insurers.