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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Swiss non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Switzerland's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Switzerland non-life (P&C) market as well as trends by line of business. Axco analysts also report on Switzerland's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Switzerland's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Switzerland, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Switzerland, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Switzerland with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The Swiss market is highly saturated, with very high insurance penetration, and continues to be very competitive. According to estimates by the Swiss Insurance Association (SIA) gross written premium income for non-life business (excluding health and accident) amounted to CHF 14.359bn (USD 15.37bn) in 2020, a slight increase compared to 2019.
At the time this report was in preparation the full impact of the COVID-19 pandemic on the Swiss insurance market remained to be seen. Estimates by the SIA suggest that the direct loss to Swiss insurers from the pandemic will be around CHF 1bn ....
This is a brief extract of information; more updated information may be available in the latest published report.