The Swiss insurance industry experiencing difficulties

According to a study conducted by the international audit and consulting firm EY, the Swiss insurance market is facing difficulties.

Negative rates introduced by the Swiss National Bank in 2015 and maneuvers to adapt to federal rules of the European Union have led to a precarious insurance business.

The study surveyed among fifteen largest insurers operating on the Swiss market portrays destabilized companies struggling to finance interest rates guaranteed to policyholders and that continue to take more risk.

Today, some insurers do not exclude the possibility of withdrawing from the Swiss market to grow elsewhere. The most optimistic ones evaluate the framework that is unfavourable to the establishment of replacements and believe that they can still resist two years under the current conditions.

As a reminder, the last Sigma report indicates that in 2014, Switzerland represents the sixteenth global market. Its total premiums' volume is estimated at 65.2 billion USD, increasing by 2.7% compared to 2013.

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