The insurance sector is an important pillar of the economy, as no modern economy is conceivable without insurance. Insurers free up resources at the policyholders’, they pave the way for economic and societal innovation and development.
Insurers free up resources at the policyholders’, they pave the way for economic and societal innovation and development. The Swiss insurance industry embodies safety, trust and reliability – and has been doing so for over 150 years. Its solid growth, its stability even in times of financial and economic crises are proof that the insurers’ path is a successful one and that they are well positioned for the future.
The insurance sector is one of Switzerland’s largest and most productive industries. It accounts for some 4.6% of the total value created by the Swiss economy and for some 50% of the total value created by the Swiss financial sector. Over and above this, Swiss insurers are are major employers and significant taxpayers. They also make some of the largest investments in Switzerland and abroad.
Trust – safety – reliability
The Swiss insurance industry stands for trust, safety and reliability. The previous years’ business volumes and stable earnings – not least during the 2008 economic and financial crisis – are proof that the insurance industry has chosen a successful path and that its business models are well positioned. Consistent pursuits of improvement in the operating business, a focus on profitability, and rigorous risk management have paid off.
Safety and well-being
Safe conditions are a prerequisite for people to thrive and act successfully. Both individuals and companies therefore have a pronounced need to transfer risk to insurance companies and to take out coverage for extraordinary costs or losses in case a risk materialises. Solid insurance coverage is one of the key factors determining private consumer spending.
Safety for business ventures
Insurance it one of the foundations working economies and markets rely on. Companies are able to free up capital by transferring their business or operative risks to external partners. Reinvested, the capital enables them to grow their business and create added value. Unlike bank loans, which are limited to putting additional means at the disposal of entrepreneurs, insurance coverage offers both financial means and protection against business risks.