Switzerland Insurance Q1 2019
Switzerland's insurance industry is among the best developed in the world, supported by the high incomes levels of localresidents and the country's status as a financial services hub. Increasingly, the country is also becoming a key location for innovationin the area of digital insurance services and 'insurtech'. Amid a solid economic backdrop, the outlook for the Swiss insurance marketis fairly positive over the next few years. In particular, strong consumer confidence, combined with a growing retirement-agepopulation, will drive demand for life and health insurance products. The motor and property sub-sectors, while fairly mature, willalso see steady growth. However, these opportunities for business growth will be tempered by challenges, including high levels ofcompetition between local providers, as well as low interest rates and rising claims costs. These factors will limit the attractiveness ofthe market in the eyes of overseas insurance providers and investors.
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