Insurance in Switzerland
Switzerland is perhaps the most heavily insured country in the world. Numerous insurance companies here offer different types of insurance for everything. The companies provide compulsory, a legally required type of insurance that everyone must have in Switzerland. There are also supplementary options that provide additional coverage to standard policies in case of fortuitous events.
Types of insurance vary from one another in different Swiss cantons. However, there are two forms of insurance in the country. They are business and personal insurances.
Business insurance in Switzerland
- vehicle insurance
- personnel insurance
- public liability insurance
- building and contents insurance
Personal insurance in Switzerland
- health insurance
- accident insurance
- motor vehicle insurance
- home insurance
- life insurance
- social security
- unemployment insurance
Here is the list of biggest insurance companies in Switzerland.
Founded in 1872, Zurich Insurance Group is the largest insurance company in Switzerland. It is one of the major insurance companies in Europe.
Zurich offers general insurance and life insurance services in 170 countries of the world. The offered insurance services offered are classified into three important segments.
The General Insurance segment provides a variety of motor, home and commercial products and services for individuals, as well as small and large businesses.
The segment related to Farmers deals in Farmer Management Services and offers support to the farmers in all their endeavors.
Global Life Insurance is the segment through which the Group provides life insurance, savings, investment and pensions solutions.
Swiss Life Group
Swiss Life Group is another big insurance company in Switzerland. It offers a large variety of insurance services such as life insurance, risk, pensions and financial solutions for private and corporate clients, health insurance, and asset management.
Swiss Life Group was founded in 1857 in Zurich. It has 8,500 employees in Switzerland, Germany, France, Luxembourg, Liechtenstein and Singapore.
Swiss Re AG
Swiss Re AG is among the leaders on providing of reinsurance, insurance, and insurance linked financial market products. It also offers automobile, liability, accident, engineering, marine, aviation, life, and health insurance. Its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients.
Swiss Re works direct or through brokers in the following segments: Property and Casualty Reinsurance, Life and Health Reinsurance, Corporate Solutions, and Admin Re. Incorporated in 1863 in Zurich, Swiss Re operates through offices in more than 25 countries with approximately 15,000 employees.
Baloise Holding AG
Headquartered in Basel, Baloise Holding AG is a multinational European insurer specializing in financial and banking services as well as providing life, property, home and pension insurance solutions for individuals and businesses.
The company was founded in 1864. Today, it operates not only in Switzerland but also in Belgium, Germany, Luxembourg and Liechtenstein. The company employs approximately 7 300 employees across Europe.