[London, October 2025] Axco Insurance Information Services (Axco) has released the latest publication of its non-life insurance market report for Switzerland, which provides a comprehensive analysis of the country’s life and benefits insurance market. The report offers exclusive insights, new statistics, and on-the-ground research into the sector’s evolving landscape. Key findings include:
Market Growth & Premium Trends
Switzerland’s statutory health insurance market surged in 2023, with gross written premiums skyrocketing to CHF 10.8 billion (USD 12.7 billion), a 26.2% year-on-year increase. This sharp rise was mirrored by a 29.2% jump in claims, underscoring the mounting pressure on the healthcare system. Despite these shifts, health insurers maintained a robust solvency ratio of 362%, signalling continued financial resilience. However, with healthcare costs climbing and reserves shrinking, premium rates are forecast to rise by an average of 6% in 2025 and a further 4% in 2026.
Regulatory Landscape
Effective 1 September 2024, Switzerland’s revised Insurance Supervision Ordinance (AVO-FINMA) introduces key updates to the Swiss Solvency Test (SST), tied assets, and technical provisions. Transparency requirements for life insurers were also strengthened, particularly around tied agents and distribution.
Distribution Channels
Due to the largest proportion of market premium being from group occupational business, brokers play a dominant role in total distribution, although the share of group premiums has declined slightly over the last 5 years.
Market Participants
In April 2025, a proposed merger between two of the largest players in the region was announced. The transaction aims to significantly cut costs and strengthen distribution, and it would create one of the most important ones in Europe, reaching across eight countries and a significant market share in life, property, and casualty insurance. As of July 2025, the merger was in the consultation phase.
Axco’s Switzerland life and benefits report draw on extensive primary and secondary research, is an essential resource for insurance professional seeking to stay ahead in the Swiss insurance market. Visit Insurance market reports (non-life) for more details and for any data concerns, visit Axco's Navigator.