The premiums received domestically and internationally every year, combined with the most important key balance sheet figures, give an overview of the economic significance of the Swiss insurance industry.
Private insurers with based or headquartered in Switzerland received a total of 226,5 billion Swiss francs in premiums in 2021. Many of the country’s major insurance companies have a strong international focus: around three-quarters of premiums were generated abroad.
|Total direct insurance (CHF billion)||53,0||117,9||170,9|
|Overall total in CHF billion||55,5||171,0||226,5|
|Breakdown in percent||24%||76%||100%|
* Estimates: Swiss Insurance Association SIA
The largest share of the assets reported by private insurers in all lines of business relates to investments. Insurers act as investors, injecting this money into the economic cycle over the long term.
|of which financial investments||310,6||313,3||317,1||338,1|
|of which financial investments||158,2||153,4||152,6||150,5|
|of which financial investments||105,4||101,6||97,0||93,3|
|Total in CHF billion||717,6||712,6||712,2||684,2|
|of which financial investments||574,3||568,3||566,7||581,9|
The financial assets of insurance companies have to be secured using tied assets, as the companies need them in order to fulfil their obligations as insurers. The minimum funding requirement is 101 per cent. This must be covered at all times by corresponding assets, which are governed by stringent investment guidelines. The coverage ratio indicates which resources are available in tied assets as a percentage of the minimum funding requirement.
|Total value of coverage||293'290||290'733||293'239||316'067|
|Coverage ratio – tied assets||110%||108%||109%||108%|
|Total value of coverage||84'335||77'128||77'313||74'094|
|Coverage ratio – tied assets||132%||127%||130%||124%|
The Swiss Solvency Test (SST) is used to evaluate the capital resources of an insurance company. The requirement for solvency is met where the available capital (risk-bearing capital) is greater than the capital required (target capital). Tied assets and the risk-based solvency regime under the SST guarantee a high degree of security for policyholders.
Investments are a central part of insurance companies’ assets. Insurers use them to meet their long-term insurance obligations. Capital is invested in various classes that also benefit the Swiss economy.
|Land and real estate||41,5||7,4||0,1||49,0|
|Loans and debt register claims||8,9||9,6||3,8||22,4|
|Equity (incl. treasury shares/bonds)||12,1||7,2||0,8||20,0|
|Collective investment schemes||-||-||-||-|
|Alternative investments and derivatives||-||-||-||-|
|Cash, fixed-term deposits, other money market investments||5.8||11,1||4,5||21,3|
|Unit-linked life insurance||24,1||0,0||0,0||24,2|
|Total investments in CHF billion||310,8||158,9||101,2||571,0|
|Receivables and other assets||15,0||20,5||106,3||141,7|
|Total assets in CHF billion||325,8||179,4||207,4||712,6|