The Swiss in­sur­ance mar­ket

18 November 2021

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.

Insurers in Switzerland at 31 December
  2016 2017 2018 2019 2020
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
Reinsurance companies 30 28 27 25 25
Captive insurance companies 25 27 27 25 25
Total 207 204 199 198 195
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 membership as of January 2021
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.

Global premium volume 2020 generated by the largest private insurers headquartered/located in Switzerland in CHF billion (gross premiums)
Insurers Switzerland Total
Zurich Insurance Group 4,1 55,5
Chubb 0,1 31,9
Swiss Life 10,7 19,7
AXA Winterthur 5,5 5,5
Helvetia 4,6 9,0
Bâloise 3,4 6,4
Die Mobiliar 3,9 3,9
Allianz Suisse 3,6 3,6
Generali Schweiz 1,8 1,8
Helsana-Gruppe (VVG+UVG) 1,8 1,8
Reinsurer Switzerland Total
Swiss Re 1,2 37,8
New Reinsurance Company Ltd 0,5 5,6
Catlin Re 0,2 1,6

 Source: Annual reports 2020, FINMA