Providing insurance services to businesses and the general population is part of the core infrastructure of a healthy economy. The added value generated by the insurance industry contributes a relevant amount to the country’s gross domestic product.
|Direct gross value created by insurance companies||2016||2017||2018||2019||2020|
|Gross added value created by private insurers in CHF bn||20,8||20,4||21,9||21,0||n/a|
|Related services (e.g. brokerage)||3,1||3,0||3,0||3,9||n/a|
|Gross added value created by the insurance industry in CHF bn||29,4||29,2||31,5||30,8||28,6|
|Share of gross value added in Switzerland||4,6%||4,5%||4,6%||4,6%||4,2%|
The economic significance of Swiss private insurers can also be measured based on their tax contributions. On the one hand, these companies pay taxes to the federal government, cantons and municipalities; on the other hand, the people working in the insurance industry contribute to the industry’s performance in the form of their income tax.
|Direct taxation in CHF billion||2016||2017||2018||2019||2020|
|Corporate taxes and employee income taxes||2,7||2,8||2,7||3,3||2,9|
These data do not reflect VAT, withholding taxes and stamp duties
Source: BAK Economics / Polynomics / Federal Statistical Office