Insurance companies Axa Switzerland gains new customers in the BVG business in 2024
Axa Switzerland continued to grow in the area of occupational pensions (BVG) in the 2024 financial year. The insurer, which is part of the French Axa Group, has further increased the number of insured persons.
26.05.2025, 09:32
SDA
The collective foundations continued to develop successfully and grew faster than the market as a whole, Axa Switzerland announced on Monday. The number of active insured persons, i.e. employees, including the business with autonomous pension funds, increased by 2 percent to over 433,700, while gross premiums rose by 2.5 percent to 805 million francs.
According to the insurer, over the past six years (2019-2024), the retirement assets of insured persons have been distributed to insured persons with CHF 2.9 billion more interest than the BVG minimum interest rate. At the same time, the collective foundations have strengthened their fluctuation reserves, particularly in the past year, thereby consolidating their long-term financial security. At CHF 88 million, the operating result before taxes remained stable compared to the previous year.
Costs per insured person reduced
In business subject to the minimum quota, CHF 797 million went to policyholders in the form of insurance benefits, reserve reinforcements and allocations to the surplus fund. This is 2 percent more than in the previous year. At 90.5 percent, the payout ratio was above the statutory minimum requirement of 90 percent. The costs per active insured person fell by 7.4% to CHF 374.
The situation with regard to risk benefits has become even more acute this year. The trend towards more cases of disability that has been apparent for several years continued in 2024, a significant proportion of which were the result of mental illness.
The reintegration of those affected into the labor market is proving increasingly challenging. At AXA's collective foundations, 44% of provisions for new disability cases now have to be made for mental illnesses.
