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Largest Insurance Carriers Public Companies in Switzerland
Benchmark revenue and EBITDA valuation multiples for public comps like
Chubb, Zurich Insurance Group, Swiss Life, Helvetia Baloise Holding and Vaudoise Assurances.
 | ACE acquired Chubb in the first quarter of 2016 and assumed the Chubb name. The combination made the new Chubb one of the largest domestic property and casualty insurers, with operations in 54 countries spanning commercial and personal P&C insurance, reinsurance, and life insurance. | $328 | +10% | $127B | $148B | 2.5x | 11.5x | ||
| Zurich is a multiline insurer that writes business across both life and nonlife insurance and also owns Farmers Management Services. Zurich was founded in 1872 as a marine reinsurer to provide reinsurance to its parent company. The company subsequently expanded into transport and accident insurance and rode the wave of transport technology innovation that drove rising demand for insurance. One of Zurich’s early principles was that setting prices too low would result in unfair claims handling, which would be damaging to both customers and Zurich. Over the years, Zurich has sought to combine customer goodwill through claims and a sufficient premium. Zurich is one of the most successful European multilines. | $726 | -1% | $108B | $117B | 1.3x | 33.2x | ||
| Swiss Life is predominantly a life and long-term savings company that generates the main share of its revenue and earnings from its domestic market of Switzerland. The company also operates in France, Germany, and a few smaller but wealthy European countries. The company has an asset manager as well. Swiss Life has three main sources of income that vary in significance by geography. Savings income relates to spread-based earnings, the risk result relates to an insurance margin, and the fee result relates to asset management and financial advisory. The fee result has been growing in importance over recent years as a result of advice, asset management, and unit-linked sales. | $1,099 | +5% | $31B | $37B | 1.4x | — | ||
| Helvetia Baloise Holding AG is a multi-line insurance company. The company provides pension, specialty insurance and reinsurance services, and other financial solutions. | $272 | +11% | $27B | $28B | 2.0x | — | ||
| Vaudoise Assurances Holding SA is a Swiss-based company engaged in the provision of life and non-life insurance services. The company, together with its subsidiaries, offers health, accident, fire, and third-party, as well as motor and transport insurance products, among others. It mainly serves individuals, small and medium-scale businesses, and the public sector. The group's operating segments are: Non-life domain, Life domain, and Other activities. Maximum revenue is generated from its Non-life insurance products. Geographically, the majority of the group's revenue is generated from Switzerland, and the rest from Liechtenstein. | $988 | +26% | $3B | $3B | 1.2x | — | ||
| Firstcaution SA is an insurance company engaged in processing and providing rental deposit guarantees for private and commercial leases in Switzerland. It offers commercial lease deposit, combined cash deposit and guarantee, and individual risk assessment products to business customers; and guarantees for residential or commercial leases of private customers. | $45 | -3% | $170M | $138M | 3.6x | — | ||
| Median | $527 | +8% | $29B | $32B | 1.7x | 22.3x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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