Premium volumes in the Swiss insurance sector

The non-life segment recorded above-average growth in premium volume at +4.4 per cent. This was primarily attributable to high construction and repair costs and the associated increase in insured sums. The volume of premiums in motor vehicle liability insurance increased as it did the previous year. The increase in fire, natural hazards and property damage insurance is due to the higher number of policies, rising sums insured and the rising construction cost index. In professional and general liability insurance, the increase in the volume of premiums corresponds to a large extent to the increase in wages and fees and to some extent to the turnover on which premiums are calculated. Hedging against cyber and earthquake risks also continued to grow. However, there is still potential here due to the continuing low level of market penetration.

Despite continuing high cost pressure, supplementary health and accident insurance saw only moderate growth: premium volume grew by +1.7 per cent. Accident insurance grew by +1.1 per cent. The moderate increase is mainly attributable to premium increases due to higher numbers of non-occupational accident cases.

In life insurance, opposing trends largely offset one another: the continuing trend towards partial autonomy is dampening premium volume in group life (–1.8%). Individual life increased significantly (+3.6%) thanks to strong single premiums. Thus, the slightly positive trend of recent years continues once again. 

For reinsurance, a slight decline is expected in 2025 – but a more precise forecast is not yet possible. Good financial results in recent years and a relative scarcity of claims have led to a ‘soft market’ emerging and a decline in premium volumes.