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The Insurance Boutique

Assithèque is an Insurance Boutique founded in 2009 in Zurich, Switzerland. We provide services and solutions to Life and Non-Life Insurance and Reinsurance Companies, Intermediaries and TPAs.

About Us

Experts In
New Products, Projects & Ventures

Our insurance knowledge and experience in technology enable us to create new products, establish new ventures, manage risks and ensure the necessary levels of corporate governance – which is why we are engaged by InsurTechs, Startups as well as established companies.

Insurance Boutique

Services and Solutions

Insurance services and solutions to Life and Non-Life Insurance and Reinsurance Companies, MGAs/MGUs, TPAs, Captives and Intermediaries.

Business Development

Establishment of new insurance companies, agencies and brokerages; cross-border business expertise.

- Establishment of new insurance companies
- Insurance Agencies / Brokerages
- European cross-border strategies
- Entering new markets

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Risk Management

Compliance, Underwriting & Claims audits; Pricing & Reserving reviews; Solvency II Internal Audit & Risk Management.

- Compliance audits
- Underwriting and pricing reviews
- Claims and reserving reviews
- Solvency II Internal Audit / Risk Management
- Due diligence investigations

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Insurance Agencies / MGAs

Supporting intermediaries to become MGA's and/or achieve Coverholder status, fulfilling all necessary requirements.

- Achieving MGA and/or Lloyd's Coverholder status
- Compliance documentation
- Advice on the required processes and procedures
- Policies and guidelines based on audit outcome

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Product Development

Life & Non-Life: Conceptualisation, design, profit-testing & pricing, reinsurance, wording - cross-border and local compliant.

- Market research, pricing and product design
- Reinsurance support
- Policy documentation
- Adaptation for other markets (local compliant)

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Actuarial Services

Life & Non--Life: pricing, reserving, regulatory functions (SST/S2) and capital management/reinsurance.

- Regulatory functions (responsible actuary, SII actuarial function)
- SII and SST reporting
- Product pricing
- Cashflow modelling
- Reinsurance optimisation
- Capital management

knowledge and experience

The Team

Michel Ruggaber

Partner & Managing Director

Eugen Balogh

Partner & Managing Director

Cornelius Franken

Actuarial Associate

Daniele Boni

Correspondent Italy

Stay Tuned

Our Blog

Welcome to the Assithèque Blog. We put knowledge into action with ideas to inspire and support your business.

Get In Touch

Contact Us

We’re here to help and answer any questions you might have.


Assithèque GmbH
Weinbergstrasse 73
8006 Zurich

Business Development


New Insurance companies:

We assist investors to establish new insurance companies, covering the following areas:

  • Business Plan
  • Meeting with supervision authority (first discussion on a no-name basis)
  • Solvency II capital requirements
  • Regulatory requirements
  • Solvency II functions
  • Setting up of a legal entity
  • Substance requirements (local operations)
  • Interim Management
  • Board positions

Cross-border business

We have extensive experience in the European cross-border market, advising on the following:

  • Local regulatory requirements
  • Product design
  • Product documentation
  • Regulatory reporting
  • Local distribution

Risk Management

Audits & Reviews

We perform audits and reviews on behalf of Lloyd’s of London / Brussels, reinsurers and insurers, reporting on the following:

  • Pricing
  • Underwriting
  • Contract documentation
  • Claims
  • Accounting
  • Reporting
  • IT systems and security
  • Compliance
  • Treating customers fairly (IDD,…)

Solvency II functions

We perform and assist with the following Solvency II functions and requirements:

  • Risk Management
  • Internal Audit
  • ORSAs

Insurance Agencies / MGAs


Assithèque has established and/or audited MGAs/MGUs across Europe, the Middle East and Africa.  We therefore have an intimate understanding of regulatory and (re)insurer requirements. Whereas we believe that you are experts in what you are doing when it involves your own products and markets, it can sometimes be quite a challenge for new or small companies to adhere to the ever growing list of compliance, regulations and legal requirements.

Are you an MGA/MGU or Coverholder wrestling with any of the following:

  • Reviewing or drafting of internal procedures in respect of underwriting, policy administration and/or claims handling, or any of the following procedures
    • International sanctions and embargo 
    • Anti-bribery and corruption
    • Anti-money laundering
    • Anti-fraud
    • Complaints management (incl. a log)
    • Conflict of interest (incl. a log)
    • Treating Customers Fairly / ethics / code of conduct
    • Whistleblowing
  • Business Continuity Plan / Disaster Recovery Plan for IT
  • Putting in place peer reviews or internal audit processes for underwriting, policy documentation, claims, compliance and customer outcomes
  • Implementing the necessary training programs, incl. training logs

We can assist you with drafting new or reviewing your existing guidelines and policies.

Are you an intermediary (agent/broker) wishing to set up an MGA/MGU or become a Coverholder

Putting all the necessary guidelines and policies in place can be a daunting task. The list above is a good indication of the requirements. 

We can also assist you with drafting new or reviewing your guidelines and policies.

Product Development


We have particular expertise in product development, and assist companies (insurers and intermediaries) with the following:

  • Conceptualising & design
  • Pricing & profit-testing
  • Reinsurance support
  • Solvency II capital requirements
  • Product documentation
  • Adaptation for different markets
  • In certain cases, introduction to a risk carrier or fronting / reinsurance company

Michel Ruggaber

Partner & Managing Director
Michel is founding Partner and Managing Director of Assithèque GmbH. His past roles include that of CEO of insurance companies  and Underwriting Manager at major reinsurance companies in Switzerland. He furthermore served as Non-Executive Director at a number of companies. Currently his main mandates includes those as Lloyds Auditor, Partner of a MGA and Senior Advisor for an InsurTech. Michel is a qualified Actuary (Swiss Aktuar SAV and Institut Français des Actuaires), he is fluent in English, French, Italian and German.

Eugen Balogh

Partner & Managing Director

Eugen is a Partner and Managing Director of Assithèque GmbH. Most recently he was part of the Leadership team at AXA Liabilities Managers and, prior to that, held senior management positions at major reinsurance companies. His experience in underwriting topics and in particular Casualty underwriting on a truly worldwide basis for more than 30 years is now available for Assithèque clients. Eugen’s mother tongue is German and he speaks English and French on a proficient level.

Cornelius Franken

Actuarial Associate
Cornelius is an independent actuary and founder of CJF Consulting. He has many years’ experience over a wide range of actuarial topics, including reporting, product development, reinsurance and executive management. Together with Michel he has priced, developed and managed several insurance products. A recent interest is the application of machine learning in the insurance industry. He is a qualified actuary and full member of the Swiss Actuarial Society (SAV) and a member of the UK’s IFoA.

Daniele Boni

Correspondent Italy
Daniel began his insurance career in 1992, starting in sales and training new resources. Shortly afterwards he held both technical-commercial and supervision positions developing an agency network for his company. In 2019 he began his activity as a freelance consultant serving Insurtechs, and coming exposed to both the MGA and Lloyd’s worlds. In 2020, the SIARD project was born, aiming at providing independant consultancy services and creating value by connecting the various players in the market analysing their needs, areas of improvement potential.
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