Life Insurance in Switzerland Taking Healthy Share in the Insurance Market: Ken Research
Posted on 17 May 2017 by KenResearch Banking Financial Services and Insurance,
KEN RESEARCH has recently announced its latest publication on “Life Insurance in Switzerland Key Trends and Opportunities to 2020”which provides in-depth market analysis, information and insights into the Swiss life insurance segment and a detailed outlook by product category for the Swiss life insurance segment, and a comparison of the Swiss insurance industry with its regional counterparts.
This report provides a comprehensive analysis of the life insurance segment in Switzerland and well assesses the competitive dynamics in the life insurance segment identifying the growth opportunities and market dynamics especially in key product range.
It details the key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period and forecast period that offer a significant analysis of the key categories in the Swiss life insurance segment, and market forecasts to 2020.
The development of any modern economy is not well defined if its insurance sector is not developed properly. The low rate of interest in the Swiss market is one of the very importantreasons for its growth. It is because of the group life policies that have been introduced in the Swiss life insurance sector.
In 2012, The Swiss Insurance Association welcomes the government’s decision to safeguard the tried-and-trusted system of state old-age and occupational pensions for the long term. Given their interdependence, it is necessary and appropriate to look both sides jointly.
Switzerland’s life insurers, who are providing pension solutions for approximately 150,000 SMEs with a total of about a million employees, will gladly work upon finding appropriate solutions for retirement provision.
- The life insurance segment has shown the tremendous growth in terms of gross written premium which is accounted for 52.3% of industry’s gross written premium in 2015.
- The Swiss life segment was stabilized, with the 3 leading insurersaccounting for 69.0% of the segment's direct written premium in 2015.
- The Switzerland life insurance segment penetration was recorded at 5.1% in 2015.
- Switzerland has started receiving the equivalence under the solvency II regime since January 1, 2016.
The opportunities for year 2020 can be predicted well, although the guarantee for theaccuracy at the real time cannot be evaluated, but for sure opportunities are guaranteed since the insurance policy related regulations are changing and improving as per the requirements and this segment of insurance carries a significant proportion of the insurance sector.
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