Fitch expects Swiss P&C insurers to maintain strong profitability

Analysts at U.S.-based Fitch Ratings Inc. expect property and casualty insurers in Switzerland to maintain strong profitability throughout 2023 and 2024, as their disciplined pricing strategies will help them mitigate the effects of higher claims inflation, Reinsurance News reported. The Swiss non-life market’s average combined ratio was stable at around 90% in 2022, while premiums increased by about 3%. The analysts expect premiums to grow over 2%, while the combined ratio is likely to remain below 95% in 2023-24.