The Swiss insurance market comprises five branches: life insurers, non-life insurers, supplementary health insurers, reinsurers and captives. Non-life insurers make up what is by far the largest branch in terms of number. Captives are insurers that belong to an individual person or a group of companies that are not active in the insurance business themselves and that only cover the risks of their owners.
|Life insurance companies||19||19||19||19||19|
|Property and casualty insurance companies||120||118||114||118||116|
|Supplementary health insurance||13||12||12||11||10|
|Captive insurance companies||25||27||27||25||25|
|of which companies with offices in Switzerland||158||156||152||149||145|
|of which branches of foreign insurance companies||49||48||47||49||50|
The majority of insurers supervised by the Swiss Financial Market Supervisory Authority (Finma) are members of the Swiss Insurance Association (SIA). Overall, the member companies of the SIA account for around 85 per cent of all insurance premiums generated in the Swiss market.
|SIA members’ share of total premium revenue in 2020 *|
|of which life insurance||100%|
|of which P & C insurance||86%|
|of which reinsurance||82%|
* 100% = all insurance companies supervised by FINMA
Many primary insurers based or headquartered in Switzerland operate exclusively in Switzerland. The situation is different for reinsurers, which generate the majority of their premium volume abroad.
|Zurich Insurance Group||4,1||55,5|
|New Reinsurance Company Ltd||0,5||5,6|
Source: Annual reports 2020, FINMA