Suva achieves good financial year 2020
Suva looks back on a turbulent 2020 financial year. The investment performance of Switzerland's largest accident insurer was nevertheless 5.1 percent. All specified financial obligations were fully covered.
Despite a lockdown in January and February, Suva achieved a good investment result of 5.1 percent for 2020. According to the company, this was above the average of the last ten years - 4.5 percent. Equity, alternative and real estate investments were the main contributors to the good performance, according to the statement. Suva's total investment assets rose from CHF 54 billion to CHF 56 billion in 2020.
"These funds are earmarked for a specific purpose," explains Hubert Niggli, Head of the Finance Department and member of Suva's Executive Board. "They cover the legally required provisions for the approximately 82,000 pensions, for future medical costs and daily allowances, and for other statutory insurance benefits from accidents and occupational diseases that have already occurred."
Policyholders would benefit from lower premiums from excess reserves and own funds, Suva says. Since 2013, the Swiss insurer has been able to reduce the burden on the Swiss workplace by a total of around one billion francs.
Thanks to secured premium income, Suva pursues a long-term investment strategy and is able to invest a significant proportion of its assets in shares, real estate and alternative investments. Suva's investment strategy is most comparable to that of pension funds. The Suva Council will decide on the appropriation of the 2020 annual result on June 18, 2021.
Source: Suva
