Switzerland: Financial Sector Assessment Program: Technical Note: An Assessment of Insurance Core Principles for the Reinsurance Industry

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 200

Publication date: June 2007

ISBN: 9781451807356

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Corporate Governance , Business and Financial , ISCR , CR , conglomerate supervision , FOPI official , FOPI staff , supervisory authority , risk management , FOPI's power , corporate governance , insurance group , Insurance companies , Insurance , Corporate governance , Solvency , Insurance supervision , Global

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Summary

This technical note discusses key findings of the assessment of Insurance Core Principles (ICP) for the reinsurance industry for Switzerland. It reveals that the Swiss reinsurance market is dominated by three large players with a strong international presence. The reinsurance industry comprises 20 professional reinsurers and 50 reinsurance captives with gross premiums written totaling SwF 37.4 billion for 2005. Swiss Re, European Re, and Converium have consistently maintained more than 75 percent market share. More than 95 percent of reinsurance premiums came from foreign business.