Zurich and its region are becoming a major reinsurance center

The cantons of Zoug, Schwyz and Zurich are attracting more and more reinsurers. The reinsurance business employs 3 800 staff members scattered around 31 companies. The reasons behind this success are not only accounted for by the fiscal and regulatory advantages but also by the flexibility of the labor market in the three cantons concerned.
Zurich counts twenty-two reinsurers, Zoug has eight while Schwyz has just one. During the first five months of 2010, four reinsurers have joined Switzerland : Amlin Re, Novae Re, Europe Re and Allied World.
With nine reinsurers spread out all over the territory, Germany remains the first international market in terms of premiums. Another hot spot of the business is Singapore which hosts 20 reinsurers and 63 captives.