Swiss Market Update at 31st December 2011 |
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The valuation and solvency of Swiss insurers is heavily dependent on financial market parameters. Deloitte’s bi-annual publication of the Swiss Market Update observes and analyses the activities in financial markets. This edition provides an update of the movements in investment markets since 2007. It includes an overview of the conditions in the Swiss economy as at end of December 2011, focusing on the main areas that impact the valuation and economic solvency of Swiss insurance companies.
Since our last market update, issued in July 2011, the credit ratings of several countries have been downgraded by the rating agencies. Consequently market interest rates increased for these European countries, whereas interest rates from highly rated countries experienced a major drop. Moreover, the Swiss Franc hit record highs against most currencies, forcing the Swiss National Bank to intervene.
In this Swiss Market Update, our market analysis focuses on equity, bond, credit and currency markets and their impact on insurance companies in Switzerland. For the first time we introduce Euro government bond curves and Euro corporate spreads.
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Swiss Market Update as at 31st December 2011
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