Jobs in insurance activities
Categories: Economy and Energy › Services › Financial services and insurance activities
The insurance market in Switzerland currently comprises around 200 companies, divided into life insurers (approx. 20), non-life insurers (approx. 120) and reinsurers (approx. 50). The eleven largest insurance companies each employ over 1,000 people and together account for 85% of all employees in the private insurance industry in Switzerland.
The number of people working in private insurance was on a slightly declining trend between 2011 and 2016. In 2017, it rose by 1.4% for a short period of time, only to fall again afterwards. At this time, the industry employed 45,937 people, 57% of whom were men and 43% were women. This growth is primarily due to acquisitions of insurance companies from start-ups or other companies, and in some cases due to insurance-related activities.
The Swiss private insurance industry employs around 150,000 people worldwide. In 2017, the number of employees abroad decreased by over 1%, which is partly due to the closure of individual companies abroad and partly due to efficiency improvements.
Swiss insurance companies achieved an aggregated result of CHF 15.2 billion in the 2019 financial year, an increase of 44% on the previous year. While life insurers reported a moderate increase in their annual profits (+8% to CHF 1.5 billion), non-life insurers recorded a real leap in profits by CHF 3.3 billion, or 49%, to CHF 10.1 billion. Compared to the previous year, significantly higher profits from investment activities were the main driving force behind the improved annual results. Reinsurers were able to increase their annual profits from CHF 2.4 billion in the previous year to CHF 3.6 billion in the year under review (+49%).
Text Sources
- SIA, Swiss Insurance Association (2020): Personalstatistik Schweizer Privatassekuranz 2019
Data Sources
- Atlas der Schweiz: Administrative Einheiten 1:1 Mio. (Gemeinden, Bezirke, Kantone)
- Atlas of Switzerland (2010): Basiskarte 1:500.000
- Atlas of Switzerland: Administrative Einheiten 1:500.000 (Gemeinden, Bezirke, Kantone)
- ETH Zurich: Atlas of Switzerland
- FSO (2020): Statistik der Unternehmensstruktur
- swisstopo [J160089] (2010): Gemeindegrenzen GG25
- swisstopo [J160089] (2010): Landeskarte 1:500.000
Data Owners: Atlas of Switzerland (AoS), Swiss Federal Statistical Office (FSO), Swiss Federal Office of Topography (swisstopo)
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