Swiss insurance and reinsurance market: 2022 results

The Swiss Financial Market Supervisory Authority (Finma) has published the annual report relating to the Swiss insurance and reinsurance market for the year 2022.

As at 31 December 2022, the overall turnover had reached 128.9 billion CHF (139.6 billion USD), up by 7.9% over one year. This growth was mainly attributable to rate increases, notably in the reinsurance business.

Non-life premiums amounted to 51.5 billion CHF (55.8 billion USD), while life premiums totalled 26.1 billion CHF (28.3 billion USD). The reinsurance class of business recorded an annual turnover of 51.3 billion CHF (55.5 billion USD).

Local insurers and reinsurers have ended the 2022 financial year with a net result of 7.6 billion CHF (8.2 billion USD), representing a 1.5% improvement compared to the end of 2021. This performance was driven by a sharp 351.9% rise in reinsurance profit to 547 million CHF (592.2 million USD) in 2022.