The 2024 insurance market report, which was published today by FINMA, offers an overview of the Swiss insurance market last year. Swiss insurance companies achieved aggregate annual profits of CHF 10.4 billion in 2024, which represents a 24% decrease over the previous year. While life and non-life insurers were able to increase their profits, reinsurers recorded a significant decline.
Swiss insurance companies achieved aggregate annual profits of CHF 10.4 billion in 2024. The overall result fell by CHF 3.2 billion or 24% compared with the previous year. Life insurers boosted their annual profits by 22% to CHF 1.6 billion. Non-life insurance companies reported an increase in their aggregate annual profits by 3% to CHF 7.1 billion. Reinsurance companies, on the other hand, reported a significant decline in their aggregated annual result. The result fell from CHF 5.4 billion in the previous year to CHF 1.7 billion in the 2024 reporting year (CHF –3.7 billion or –69%)
Swiss insurers post premium growth – life insurance sees decline
Aggregate gross premium volume increased by CHF 9.4 billion or +6.7% in the year under review to CHF 150 billion. While the premium volume of life insurers fell (–8.4% compared with the previous year), gross premiums written by non-life insurers (+8.0%) and reinsurers (+12.6%) increased significantly.
Full report and detailed data on the internet
FINMA publishes an annual report on the Swiss insurance market, which contains general market information as well as sector-specific data on the balance sheet and income statement. The sector-specific figures show the development of premiums, the market shares of the largest insurance companies in Switzerland and the development of the insurers’ equity capital and annual results. In the area of life insurance, the report also covers the actuarial reserves and the technical result and contains information on the operating statement of occupational pensions. The information comes from the supervised companies, which must provide FINMA with data for the prior year’s business on an annual basis.
As a supplement to the insurance market report, FINMA publishes electronic tables on its website in the insurers’ reporting portal, which provide detailed information for each insurance company as well as in aggregated form. The data can be filtered according to individual needs and downloaded in the standard electronic formats. In addition, FINMA publishes detailed information about the operating statement of occupational pensions (charts and transparency schemes) on its website.
