Life Insurance in Switzerland, Key Trends and Opportunities to 2020

Published: Feb, 2017 | Pages: 108 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Summary

Timetric’s 'Life Insurance in Switzerland Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Swiss life insurance segment, including:

• An overview of the Swiss life insurance segment

• The Swiss life insurance segment’s growth prospects by category

• A comprehensive overview of the Swiss economy and demographics

• A comparison of the Swiss life insurance segment with its regional counterparts

• The various distribution channels in the Swiss life insurance segment

• Details of the competitive landscape in the life insurance segment in Switzerland

• Details of regulatory policy applicable to the Swiss insurance industry

Synopsis

Timetric’s 'Life Insurance in Switzerland Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Swiss life insurance segment, and a comparison of the Swiss insurance industry with its regional counterparts.

It provides 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 (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Swiss economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Scope

This report provides a comprehensive analysis of the life insurance segment in Switzerland:
• It provides historical values for the Swiss life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
• It offers a detailed analysis of the key categories in the Swiss life insurance segment, and market forecasts to 2020.
• It provides a comparison of the Swiss life insurance segment with its regional counterparts.
• It analyzes the various distribution channels for life insurance products in Switzerland.
• It profiles the top life insurance companies in Switzerland and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Swiss life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Swiss life insurance segment.

• Assess the competitive dynamics in the life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Swiss insurance industry, and their impact on companies and the industry's future.

Key Highlights

• Life insurance accounted for 52.3% of the industry’s gross written premium in 2015.

• Insurance penetration in the life segment was 5.1% in 2015.

• The Swiss life insurance segment is highly concentrated, with the three leading insurers accounting for 69.0% of the segment’s gross written premium in 2015.

• Switzerland received full equivalence under the Solvency II regime with effect from January 1, 2016.

 Table of Content

1 KEY FACTS AND HIGHLIGHTS

2 EXECUTIVE SUMMARY

3 ECONOMY AND DEMOGRAPHICS

4 SEGMENT OUTLOOK
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Sum assured
4.2.5 Assets and investments

5 OUTLOOK BY SUB-SEGMENT
5.1 Individual Life Insurance
5.1.1 Premium
5.1.2 Policies sold
5.1.3 Penetration
5.2 Group Life Insurance
5.2.1 Premium
5.2.2 Policies sold
5.2.3 Penetration

6 DISTRIBUTION CHANNEL OUTLOOK
6.1 Analysis by Distribution Channel

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Swiss Life AG – company overview
7.1.2 Axa Leben AG – company overview
7.1.3 Helvetia Schweizerische Lebensversicherungsgesellschaft AG – company overview
7.1.4 Basler Leben AG – company overview
7.1.5 Allianz Suisse Lebensversicherungs-Gesellschaft AG – company overview

8 GOVERNANCE, RISK AND COMPLIANCE
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Health insurance
8.4.2 Marine liability insurance
8.4.3 Motor third-party liability insurance
8.4.4 Accident insurance
8.4.5 Aviation liability insurance
8.4.6 Clinical trials liability insurance
8.4.7 Professional indemnity insurance for insurance intermediaries or brokers
8.4.8 Third-party liability insurance for operators of nuclear installations
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Financial Market Supervisory Authority
8.5.3 Swiss Insurance Association
8.5.4 Federation of European Risk Management Associations (FERMA)
8.5.5 Swiss Association of Insurance and Risk Managers (SIRM)
8.6 Non-Admitted Insurance Regulation
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution (ADR)

9 DATABOOK
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Direct Marketing and E-Commerce
9.5 Insurance Brokers and Agencies
9.6 Individual Life Insurance
9.7 Individual Life Insurance by Product
9.8 Group Life Insurance
9.9 Group Life Insurance by Product
9.10 Individual Life – Single vs. Non-Single Premium
9.11 Group Life – Single vs. Non-Single Premium
9.12 Linked vs. Non-Linked Policies

10 DEFINITIONS AND METHODOLOGY
10.1 Definitions
10.2 Methodology

11 ABOUT TIMETRIC
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric’s Services
11.4 Disclaimer

List of Tables

Table 1: Swiss Life Insurance – Key Facts, 2015  
Table 2: Swiss Life Insurance – Segment Shares of the Top Insurers, 2015  
Table 3: Swiss Government Credit Ratings  
Table 4: Swiss Life Insurance – Gross Written Premium (CHF Billion and US$ Billion), 2011–2015  
Table 5: Swiss Life Insurance – Penetration (%), 2011–2015  
Table 6: Swiss Life Insurance – Gross Written Premium (CHF Billion and US$ Billion), 2015–2020  
Table 7: Swiss Life Insurance – Penetration (%), 2015–2020  
Table 8: Swiss Life Insurance – Premium per Capita (CHF and US$), 2011–2015  
Table 9: Swiss Life Insurance – Premium per Capita (CHF and US$), 2015–2020  
Table 10: Swiss Life Insurance – Number of Active Policies (Million), 2011–2015  
Table 11: Swiss Life Insurance – Number of Active Policies (Million), 2015–2020  
Table 12: Swiss Life Insurance – Paid Claims (CHF Billion and US$ Billion), 2011–2015  
Table 13: Swiss Life Insurance – Paid Claims (CHF Billion and US$ Billion), 2015–2020  
Table 14: Swiss Life Insurance – Sum Assured (CHF Billion and US$ Billion), 2011–2015  
Table 15: Swiss Life Insurance – Sum Assured (CHF Billion and US$ Billion), 2015–2020  
Table 16: Swiss Life Insurance – Total Assets (CHF Billion and US$ Billion), 2011–2015  
Table 17: Swiss Life Insurance – Total Assets (CHF Billion and US$ Billion), 2015–2020  
Table 18: Swiss Life Insurance – Total Investment Income (CHF Billion and US$ Billion), 2011–2015  
Table 19: Swiss Life Insurance – Total Investment Income (CHF Billion and US$ Billion), 2015–2020  
Table 20: Swiss Life Insurance – Investment Portfolio (CHF Billion), 2011–2015  
Table 21: Swiss Life Insurance – Investment Portfolio (CHF Billion), 2015–2020  
Table 22: Swiss Life Insurance – Direct Written Premium by Sub-Segment (CHF Billion), 2011–2015  
Table 23: Swiss Life Insurance – Direct Written Premium by Sub-Segment (CHF Billion), 2015–2020  
Table 24: Swiss Individual Life Insurance – Direct Written Premium by Category (CHF Billion), 2011–2015  
Table 25: Swiss Individual Life Insurance – Direct Written Premium by Category (CHF Billion), 2015–2020  
Table 26: Swiss Individual Life Insurance – Number of Policies Sold by Category (Thousand), 2011–2015  
Table 27: Swiss Individual Life Insurance – Number of Policies Sold by Category (Thousand), 2015–2020  
Table 28: Swiss Group Life Insurance – Direct Written Premium (CHF Billion), 2011–2015  
Table 29: Swiss Group Life Insurance – Direct Written Premium (CHF Billion), 2015–2020  
Table 30: Swiss Group Life Insurance – Number of Policies Sold (Million), 2011–2015  
Table 31: Swiss Group Life Insurance – Number of Policies Sold (Million), 2015–2020  
Table 32: Swiss Life Segment – Market Shares of Leading Insurers (%), 2015  
Table 33: Swiss Life AG – Key Facts  
Table 34: Swiss Life AG – Key Financials (US$ Million), 2011–2015  
Table 35:Axa Leben AG – Key Facts  
Table 36: Axa Leben AG – Key Financials (US$ Million), 2011–2015  
Table 37: Helvetia Schweizerische Lebensversicherungsgesellschaft AG – Key Facts  
Table 38: Helvetia Schweizerische Lebensversicherungsgesellschaft AG – Key Financials (US$ Million), 2011–2015  
Table 39: Basler Leben AG – Key Facts  
Table 40: Basler Leben AG – Key Financials (US$ Million), 2011–2015  
Table 41: Allianz Suisse Lebensversicherungs-Gesellschaft AG – Key Facts  
Table 42: Allianz Suisse Lebensversicherungs-Gesellschaft AG – Key Financials (US$ Million), 2011–2015  
Table 43: Switzerland – Insurance Regulatory Framework Key Features  
Table 44: Switzerland – Life Insurance Regulatory Framework  
Table 45: Switzerland – Property Insurance Regulatory Framework  
Table 46: Switzerland – Motor Insurance Regulatory Framework  
Table 47: Switzerland – Liability Insurance Regulatory Framework  
Table 48: Switzerland – Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft  
Table 49: Switzerland – Corporate Tax Rates for the Financial Year 2016  
Table 50: Swiss Life Insurance – Policies and Premium, 2011–2015  
Table 51: Swiss Life Insurance – Policies and Premium, 2015–2020  
Table 52: Swiss Life Insurance – Claims and Expenses, 2011–2015  
Table 53: Swiss Life Insurance – Claims and Expenses, 2015–2020  
Table 54: Swiss Life Insurance – Assets and Investments, 2011–2015  
Table 55: Swiss Life Insurance – Assets and Investments, 2015–2020  
Table 56: Swiss Life Insurance – Direct Marketing and E-Commerce, 2011–2015  
Table 57: Swiss Life Insurance – Direct Marketing and E-Commerce, 2015–2020  
Table 58: Swiss Life Insurance – Insurance Brokers and Agencies, 2011–2015  
Table 59: Swiss Life Insurance – Insurance Brokers and Agencies, 2015–2020  
Table 60: Swiss Life Insurance – Individual Life Insurance, 2011–2015  
Table 61: Swiss Life Insurance – Individual Life Insurance, 2015–2020  
Table 62: Swiss Life Insurance – Individual Life Insurance by Product, 2011–2015  
Table 63: Swiss Life Insurance – Individual Life Insurance by Product, 2015–2020  
Table 64: Swiss Life Insurance – Group Life Insurance, 2011–2015  
Table 65: Swiss Life Insurance – Group Life Insurance, 2015–2020  
Table 66: Swiss Life Insurance – Group Life Insurance by Product, 2011–2015  
Table 67: Swiss Life Insurance – Group Life Insurance by Product, 2015–2020  
Table 68: Swiss Life Insurance – Individual Life Insurance by Premium, 2011–2015  
Table 69: Swiss Life Insurance – Individual Life Insurance by Premium, 2015–2020  
Table 70: Swiss Life Insurance – Group Life Insurance by Premium, 2011–2015  
Table 71: Swiss Life Insurance – Group Life Insurance by Premium, 2015–2020  
Table 72: Swiss Life Insurance – Linked vs. Non-Linked Policies, 2011–2015  
Table 73: Swiss Life Insurance – Linked vs. Non-Linked Policies, 2015–2020  
Table 74: Insurance Industry Definitions  
  

List of Figures

Figure 1: Swiss Real GDP (CHF Billion), 2011–2020  
Figure 2: Swiss Consumer Price Inflation (%), 2011–2020  
Figure 3: Swiss Current Account Balance as Percentage of GDP (%), 2011–2015  
Figure 4: CHF –US$ Exchange Rate, 2011–2020  
Figure 5: Swiss Unemployment Rate, 2011–2020  
Figure 6: Swiss Population by Age Group, 1991–2025  
Figure 7: Swiss Life Insurance Penetration – Regional Comparison (%), 2015  
Figure 8: Swiss Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2015  
Figure 9: Swiss Life Insurance – Gross Written Premium (CHF Billion), 2011–2020  
Figure 10: Swiss Life Insurance – Penetration (%), 2011–2020  
Figure 11: Swiss Life Insurance – Premium per Capita (CHF), 2011–2020  
Figure 12: Swiss Life Insurance – Number of Active Policies (Million), 2011–2020  
Figure 13: Swiss Life Insurance – Paid Claims (CHF Billion), 2011–2020  
Figure 14: Swiss Life Insurance – Sum Assured (CHF Billion), 2011–2020  
Figure 15: Swiss Life Insurance – Total Assets (CHF Billion), 2011–2020  
Figure 16: Swiss Life Insurance – Total Investment Income (CHF Billion), 2011–2020  
Figure 17: Swiss Life Insurance – Investment Portfolio (CHF Billion), 2011–2020  
Figure 18: Swiss Life Insurance – Investment Portfolio Dynamics by Category, 2011–2020  
Figure 19: Swiss Life Insurance – Direct Written Premium by Sub-Segment (CHF Billion), 2011–2020  
Figure 20: Swiss Life Insurance – Direct Written Premium Share by Sub-Segment, 2011–2020  
Figure 21: Swiss Life Insurance – Direct Written Premium Dynamics by Sub-Segment, 2011–2020  
Figure 22: Swiss Individual Life Insurance – Direct Written Premium by Category (CHF Billion), 2011–2020  
Figure 23: Swiss Individual Life Insurance – Direct Written Premium Dynamics by Category, 2011–2020  
Figure 24: Swiss Individual Life Insurance – Number of Policies Sold by Category (Thousand), 2011–2020  
Figure 25: Swiss Individual Life Insurance – Penetration (%), 2011–2015  
Figure 26: Swiss Individual Life Insurance – Penetration (%), 2015–2020  
Figure 27: Swiss Group Life Insurance – Direct Written Premium (CHF Billion), 2011–2020  
Figure 28: Swiss Group Life Insurance – Number of Policies Sold (Million), 2011–2020  
Figure 29: Swiss Group Life Insurance – Penetration (%), 2011–2015  
Figure 30: Swiss Group Life Insurance – Penetration (%), 2015–2020  
Figure 31: Swiss Life Segment – Market Shares of Leading Insurers (%), 2015  
Figure 32: Switzerland – Insurance Supervision and Control at Various Levels  
Figure 33: Switzerland – Insurance Regulatory Frameworks for Company Registration and Operation