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Switzerland is often considered to be a nation of insurers thanks to the global reach of many of its companies.

This content was published on August 9, 2006 - 10:39

Switzerland is often considered to be a nation of insurers thanks to the global reach of many of its companies such as Zurich and Winterthur. A lesser-know fact is that it also carries plenty of weight in the reinsurance sector, with Swiss Re the world's biggest firm of its kind. The Swiss also like to be insured, and Switzerland is the country where people pay the highest premiums. The Swiss also ready themselves early for retirement, covered by the so-called three-pillar system that kicks in the day they begin to work.

91,000 people work for Swiss insurance companies abroad, out of a total of 135,000 employees.

SFr3 billion were paid out by reinsurer Swiss Re in 2005 for claims made after natural disasters.

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