Swiss Re

The volatile US market, which accounts for 44.7% of Swiss Re’s total gross premium income, remains hugely important for the group. Its next biggest markets, the UK, Germany, France and Switzerland, by comparison, account for only 9%, 6%, 4% and 3.9% of gross premium income respectively.

It is a testament to the size of Swiss Re that its non-life underwriting result deteriorated by 538% from a loss of CHF352mn in 2004 to a loss of nearly CHF2.3bn in 2005 and the Swiss reinsurer still managed to generate a positive net income of around CHF1.5bn.