Insurance and the financial centre

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Insurance contributes to a financial centre in several ways. Insurers are among the largest institutional investors, holding large portfolios of bonds, shares, real estate and mortgages to cover their obligations to policyholders. They provide the protection that companies and individuals need to undertake risky activities, from the construction of a chemical plant to the shipment of goods across the world. They develop expertise in the assessment and pricing of risk, which is valuable to the whole financial system. And they offer products, such as life insurance with investment components, that compete with and complement the products of banks and asset managers.

In Basel, insurance has been part of the financial centre since the 1860s, alongside the banks and the chemical industry. The three sectors have been connected by ownership, by personal relationships and by business: the banks financed the insurers and managed their investments, the insurers covered the risks of the chemical industry and invested in its shares, and the chemical companies created pension funds that became major investors. This interconnection, which the previous chapter described for the banks and industry, extended to insurance and gave the Basel financial centre its particular character.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of August 2025.

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Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

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