is an Association of Swiss domiciled Captive Insurance and Reinsurance
Companies founded in August 2013 by its initial Directors. Since the
recent financial crisis many rules and regulations governing the Insurance
industry in Switzerland have undergone changes that have prompted
many an actual or prospective Captive Owner to rethink how best to
organize their Risk and Insurance operations. In some respects there
is considerable commonality in the challenges facing Captive operations
in Switzerland. Hence one of the main purposes of SIRCA lies in identifying
such issues, analyzing potential common ground among member Companies,
devising remedial solutions and discussing these with the various
Swiss Authorities concerned with a view to cooperating towards smoother
regulatory oversight and thus benefitting both the Captive industry
and the relevant Swiss Federal and Cantonal institutions ..
SIRCA is run at minimal cost, operates essentially by telephone, e-mail and occasional plenary or one to one meetings and is open to any suggestion brought up by its members. SIRCA has agreed with FINMA to meet at regular intervals to discuss pending issues of interest.
SIRCA is growing steadily, membership (Full members with voting rights and Observers with equal information and participation but no voting right) stood at 15 members by the end of 2014. Prospective members are welcome to contact the Management