How did Liechtenstein become a centre for insurance?

The signing of the EEA Agreement in 1995 created the foundations and framework conditions for Liechtenstein as an insurance centre. Before then, only agencies of Swiss insurance companies were operating in Liechtenstein.

The Insurance Supervision Act of 1996 and the Insurance Supervision Ordinance of 1997 introduced legislation that, for the first time, was fully compliant with European standards. From that point onwards, insurance companies were permitted to set up in Liechtenstein and sell their products across the EU. The direct insurance agreement signed with Switzerland in 1997 also opened up the Swiss market to insurance companies based in Liechtenstein.D6