Swiss Insurance Industry Sustainability Report 2024 (Swiss Insurance Association)

Summary

• The Swiss insurance sector generated CHF 28.1 billion in direct gross value and managed investments totaling CHF 528 billion.p.9
• 13 private insurers representing over 95 per cent of the relevant market voluntarily signed up to the self-regulatory regime to prevent greenwashing in unit-linked life insurance.p.3
• 79 per cent of surveyed insurers formulated a sustainability or ESG strategy in 2024, reflecting an 11 percentage point increase from 2023.p.15
• Targeted impact investments reached CHF 27.2 billion in 2024, marking a 5 per cent increase compared to the previous year.p.21
• Building energy consumption per full-time equivalent was reduced by 12 per cent to 2,865 kWh in 2024.p.26
• 84 per cent of reporting insurers took the principles of double materiality into account in 2024, up 19 percentage points.p.17

Key insights

1. The SIA Sustainability Report 2024 is the last to be published in this format as individual insurer disclosures have expanded substantially over the past six years.p.4
2. Since 1 January 2024, major insurers in Switzerland have been subject to mandatory reporting aligned with TCFD recommendations under the Ordinance on Climate Disclosures.p.3
3. Almost three-quarters of insurers with defined corporate targets have set net zero targets for the period leading up to 2050.p.17
4. 62 per cent of surveyed insurers declared having defined net zero targets for at least part of their investment portfolio.p.22
5. Properties held for investment by insurers recorded an average CO2 intensity of 9.6 kg Scope 1 emissions, meeting the Swiss federal government's 2030 targets.p.23
6. 58 per cent of insurers had their operational ecology data validated externally in 2024, an increase of 17 percentage points.p.25
7. Business travel per full-time equivalent increased by 7 per cent to 3,052 km in 2024, remaining substantially below pre-pandemic levels.p.27