The company recorded a record-high customer retention rate of 98.7 % and continued to grow in the market segment. Kessler’s position as the leading Swiss company for risk, insurance and pension consulting remains well established. Out of the approximately 7,500 leading Swiss companies, Kessler has over 1,500 customers, which represents a market penetration rate of 20 percent.
CUSTOMERS
Last year presented our customers with new challenges. Following on from the acute phase of the coronavirus pandemic, the health situation has calmed down – in the western world at least. Russia’s war of aggression against Ukraine, the increased risk of gas and electricity shortages as a result, and the sharp rise in inflation in key global economies are creating new uncertainties. Although the risks associated with demographics and climate change are slowly becoming apparent, they are difficult to mitigate. Society needs to find answers. Switzerland and its economy have performed relatively well in this environment, and it is important to hold on to the values and principles that underpin this success. At the same time, viable solutions to the challenges ahead – such as relations with the EU and key trading partners, and the long-term security of the healthcare and pension systems – must be found.
INSURANCE MARKET
Insurers and reinsurers were again hit hard by natural disasters in 2022. Swiss Re estimates globally insured catastrophe claims to be at USD 120 billion, with the largest claims related to Hurricane Ian in Florida (which caused USD 60 billion in losses) and floods in Australia.
The insurance market in Switzerland remains tough. After accident and health insurance, we are witnessing premium surcharges and capacity and coverage restrictions in most lines of insurance. We see some relief in the area of directors’ and officers’ liability insurance. Premiums for cyber risks have increased significantly once more. Large and difficult property insurance risks sometimes require complicated vertical placements.
ESG
We contribute to sustainable development as the leading Swiss enterprise specializing in comprehensive risk, insurance and pension fund consulting. In addition to the respective risk carrier’s credit rating, Kessler now provides customers with an ESG rating in the tender report. In the non-life sector, these are the ratings from MSCI and Sustainalytics, and for the second pillar, the valuation of sustainable investments. We hope that this will raise awareness of ESG attitudes among customers and partners. Kessler was included in the Swiss Triple Impact (STI) register in 2022 and was awarded the bronze medal by Ecovadis.
