7 Lesser-Known Life Insurance Companies in Switzerland
If you are rich in Switzerland, chances are you would like to stay that way.
Of course.
Otherwise, you would like to make sure that your wealth stays secure after death, passing on to those closest to you.
Enter life insurance.
In 2024, private insurers collected over 22 billion Swiss francs in premiums. So obviously, it is a big business.
Who does it best? That is up for debate.
But there are options - and these are some of the lesser-known, yet quality, Swiss life insurance companies to know…and consider.
Gonthier Group
Gonthier Group SA is a privately held Swiss life insurance provider founded in 1983 by Pierre-André Gonthier. Headquartered in Montreux, it was one of the first companies to introduce Swiss annuity products to an international clientele.
The firm remains specialist in its niche – it develops and markets annuity contracts, positioning itself as a bespoke provider rather than a mass-market insurer. According to one consumer guide, Gonthier has even been cited as the world’s largest provider of Swiss annuities. The company’s ownership is closely held (led by its founder), enabling a focused strategy centered on annuity solutions for HNW individuals. By concentrating on annuities, Gonthier has honed expertise in structuring tailor-made payout plans, life annuities, and deferred annuities that can be customized to international investors’ needs (e.g. multi-currency options or lump-sum death benefits for estate planning).
The “Swiss annuity” brand implies a high level of safety and consistent returns, which is Gonthier’s selling point.
For HNWIs
Gonthier Group is explicitly oriented toward international HNW investors seeking the advantages of Swiss annuities. Its key strengths include:
Privacy and asset protection – Swiss annuity contracts benefit from strong privacy laws and can shield assets within an insurance wrapper.
Stable returns in CHF – HNWIs can diversify into Swiss franc investments, known for stability, via Gonthier’s annuities.
Cross-border expertise – as a pioneer in selling Swiss policies abroad, Gonthier is adept at navigating international regulations (for instance, ensuring compliance in the client’s home country) and offers multilingual service.
Moreover, the firm’s boutique size means personalized service and bespoke structuring of policies to fit complex estate plans.
Pax
Pax is a Basel-based, cooperatively owned Swiss life insurance group with roots dating back to 1876. Its mutual structure means it has no shareholders – policyholders are members, and profits are partly redistributed to them as dividends or premium reductions.
This ownership model aligns Pax’s interests with its clients and fosters a long-term, customer-centric approach.
The group remains modest in size but financially solid; it reported a 2024 net profit of CHF 27 million and increased equity to CHF 789 million
Specialization
Pax specializes in retirement and pension solutions. It offers private individual life insurance and tax-qualified pension policies (pillar 3a savings, life annuities, etc.) as well as occupational pension plans for Swiss companies. In 2024, Pax’s life insurance premium volume was about CHF 889 million, roughly split between private pensions and occupational benefit plans.
Pax invests policyholder assets conservatively; its asset management arm oversaw ~CHF 9.3 billion at end-2024.
Its Swiss Solvency Test (SST) ratio stood at 223% as of early 2025 – well above the regulatory requirement – reflecting ample reserves and prudent risk management.
Die Mobiliar
Die Mobiliar – known as La Mobilière in French – is Switzerland’s oldest private insurance company, founded in 1826. It operates as a pure mutual: the group’s companies are fully owned by a cooperative society (Mobilière Switzerland Society Cooperative) with no external shareholders.
This cooperative structure has endured since the 19th century and defines Mobiliar’s philosophy: a focus on stability, customer benefit, and shared success. Mobiliar is a composite insurer covering all lines (property, casualty, life, etc.) exclusively in Switzerland and Liechtenstein.
The life insurance entity, La Mobilière Vie SA, handles individual and group life business and is 100% owned by the holding, which in turn is 100% owned by the cooperative.
In life insurance, Mobiliar offers a broad suite of products for Swiss individuals and businesses. These include term life insurance whole life and endowment policies, unit-linked savings plans, and retirement annuities for individuals, as well as group life insurance (BVG) and pension fund solutions for corporate clients. Mobiliar has been gaining market share in life insurance in recent years – in 2023 its life premium volume grew 6.4% to CHF 1.02 billion, reflecting success in both individual life (especially recurring-premium savings policies) and occupational pensions.
On the individual side, Mobiliar often positions its products as simple and trustworthy – for instance, term life for family protection, or a 3a retirement savings plan with profit participation.
Innovation
They also offer innovative add-ons like combination of life and disability coverage, and partnership products (e.g. life insurance bundled with bank accounts through tie-ups). While not known for exotic investment products, Mobiliar’s unit-linked offerings allow clients to invest in funds with varying risk profiles under the umbrella of an insurance contract.
Financial situation
Mobiliar’s financial strength is exceptional. In 2023, the group’s total premium volume reached CHF 4.77 billion, a 5.0% increase, with life insurance contributing CHF 1.02 billion and non-life CHF 3.74 billion. Net consolidated profit jumped almost 25% to CHF 384 million, aided by strong investment results in the recovering markets. What truly sets Mobiliar apart is its extraordinary solvency: as of early 2024, its SST ratio was about 485% (down from 538% a year prior but still sky-high).
This means Mobiliar has nearly five times the capital required by regulators – an almost unparalleled cushion, reflecting decades of retained earnings and conservative underwriting. The company holds substantial reserves and its investment strategy, while including equities and real estate, remains prudent (2023 investment return was 1.2% in a low-rate environment). Mobiliar’s claims payouts have been heavy in recent years due to natural disasters, yet it still maintained a combined ratio around 98% in non-life, showcasing resilient operations.
Helvetia Life
Helvetia is one of Switzerland’s largest insurance groups, operating as a publicly traded company
(Helvetia Holding AG is listed on the SIX Swiss Exchange). Founded in 1858, Helvetia has grown via mergers (notably with Patria) into a multiline insurer offering both life and non-life insurance across Europe. The group is headquartered in St. Gallen, Switzerland, and active in key markets including Switzerland, Germany, Austria, Spain, France, and Italy.
Helvetia Life refers to the life insurance business of the group, which encompasses individual life policies, group life (pension fund) insurance, and unit-linked savings products.
As a public company with diverse shareholders, Helvetia follows a profit-oriented yet prudent business model, balancing the interests of clients and investors. Helvetia’s life segment provides a full spectrum of life insurance and pension products. For individual clients, it offers term life and whole life policies, endowment savings plans, unit-linked life insurance (where premiums are invested in funds), as well as annuities and private retirement plans (pillar 3 in Switzerland).
Helvetia is also a major player in occupational benefits (BVG), managing pension schemes and group life cover for companies. The product mix emphasizes capital-efficient offerings lately – for example, more unit-linked and hybrid life policies – as low interest rates have made traditional guaranteed products less attractive.
Helvetia tailors its line-up to each market:
In Switzerland it offers popular 3a savings policies and risk life cover;
In Germany and other countries, it sells unit-linked pension contracts and term life through partners.
The insurer is known for innovation too – e.g., it has worked on digital insurance solutions and even partnered with fintechs to enhance product delivery.
Helvetia’s scale provides HNW policyholders assurance of financial strength. In 2024, Helvetia’s life insurance business volume was CHF 4.13 billion (out of a total group premium volume of CHF 11.55 billion), reflecting slight growth even as one-off single premiums normalized.
The group’s net income for 2024 was CHF 502 million, and underlying earnings in life insurance were “solid” thanks to stable margins. Helvetia is extremely well-capitalized, with an estimated SST solvency ratio of ~290% at the start of 2025 – a testament to its “excellent” capital position. This means Helvetia holds nearly three times the required risk capital, ensuring a high buffer for policyholders’ guarantees.
Swisspartners Insurance
Swisspartners Insurance AG (also known as swisspartners Versicherung AG) is a specialized life insurance company based in Liechtenstein and part of the Zurich-headquartered Swisspartners Group.
Established in 1995, it operates alongside Swisspartners’ asset management and fiduciary divisions as a one-stop wealth management boutique.
The insurance arm is privately owned; historically, Liechtensteinische Landesbank (LLB) held a majority stake in Swisspartners, providing a strong banking parent. The group is independent (not publicly traded) and relatively small (around 110 employees), but it punches above its weight by catering exclusively to affluent and high-net-worth clients.
Swisspartners leverages Liechtenstein’s EU passporting rights and insurance-friendly regulations, allowing it to serve clients across Europe while also maintaining a presence in Zurich and other locations.
Specialization
Swisspartners Insurance AG specializes in private placement life insurance (PPLI) and high-face-amount life insurance solutions for HNWIs. Its offerings are typically unit-linked life insurance policies and insurance-wrapped investment portfolios designed to optimize taxes and estate planning for wealthy individuals.
For example, a client can place a diverse investment portfolio into a life insurance policy (a wrapper) provided by Swisspartners; the assets grow tax-deferred and can pass to heirs with life insurance benefits. The firm provides both life cover and annuities with a focus on single-premium, tailor-made policies.
Liechtenstein and Cayman Islands
Swisspartners runs two insurance entities: one in Liechtenstein (for European clients) and one in Cayman Islands (serving non-European and U.S. connected clients). The Cayman-based subsidiary specializes in compliant solutions for U.S. persons, reflecting Swisspartners’ global approach.
Despite its niche focus, Swisspartners maintains strong financial credentials. It carries an A- (Excellent) financial strength rating from A.M. Best, underscoring solid risk-adjusted capitalization.
The company’s business model involves minimal balance-sheet risk: clients’ policy assets are held in segregated accounts, and Swisspartners reinsures most mortality risk with top-rated reinsurers.
While exact AUM isn’t public, it is regarded as one of the largest independent players among Swiss wealth managers in terms of assets managed for clients. The backing (and past ownership) by LLB – a AAA-rated bank predominantly owned by the principality – further boosts confidence in Swisspartners’ stability.
Vaudoise Assurances
Vaudoise Assurances, founded in 1895, is one of the top ten insurers in Switzerland and is notable for being independent and largely mutually owned.
The company’s holding structure is unique: Vaudoise Assurances Holding SA is partially listed on the stock exchange, but the majority of its share capital is held by Mutuelle Vaudoise, a cooperative society. This means policyholders (through the mutual) control the group, ensuring a focus on long-term customer benefit rather than short-term shareholder returns. Based in Lausanne (the heart of French-speaking Switzerland), Vaudoise operates nationwide with a network of agencies, though it historically has a strong presence in Romandie. It offers both life and non-life insurance, with Vaudoise Assurances Vie SA being its life insurance subsidiary (100% owned).
Life insurance focus
Vaudoise’s life insurance products cater to individuals and small businesses within Switzerland. They include term life insurance, endowment savings policies, unit-linked life plans, and annuities. Vaudoise has offered innovative hybrid products as well – for example, its “TrendValor” tranche products have garnered attention.
In 2024, a new tranche of TrendValor (an investment-linked life insurance product) drove a 46% surge in life premium for the first half. This indicates Vaudoise’s ability to package investment opportunities (likely with capital protection or structured returns) into life insurance wrappers for clients seeking higher yields.
Additionally, Vaudoise provides pension solutions and group life coverage for companies, though its share in the group life market is smaller relative to giants like Swiss Life.
Other offerings include mortgage-linked life insurance (given the company also has a history in granting mortgages), disability income cover, and supplemental health & accident insurance (some of which straddle life and non-life categories). The overall product suite is geared towards the domestic Swiss market, emphasizing simplicity and security for families and entrepreneurs.
Financial situation
Vaudoise might not be the biggest player, but it is financially very robust. In 2024, the Vaudoise Insurance Group achieved CHF 1.436 billion in revenue (premium income), a +4.2% increase, and a consolidated net profit of CHF 147 million– its best result to date.
Life insurance, which is a smaller portion of its portfolio, saw significant growth with premium volume reaching CHF 77 million in H1 2024 (up 46% year-on-year due to TrendValor). Vaudoise’s balance sheet is conservatively managed; at end-2024 its shareholders’ equity hit a record CHF 2.55 billion, providing a strong capital cushion. Impressively, Vaudoise’s SST solvency ratio stands around 330% (mid-2024), putting it among the most highly capitalized insurers in Switzerland.
The company has a tradition of sharing profits – for instance, in 2025 it announced CHF 44 million will be redistributed to non-life policyholders as discounts.
Baloise
Baloise Holding AG is a Swiss-based financial services company founded in 1863, headquartered in Basel. With approximately 8,000 employees, it operates across Switzerland, Germany, Belgium, Luxembourg, and Liechtenstein. Baloise offers a comprehensive range of services, including non-life and life insurance, pension solutions, banking, and asset management.
In April 2025, Baloise and fellow Swiss insurer Helvetia announced plans to merge, aiming to create Switzerland's second-largest insurance group with a combined market share of approximately 20% and a business volume of CHF 20 billion.
The merger, structured as a "merger of equals," involves Baloise being absorbed into Helvetia, forming a new entity named Helvetia Baloise Holding Ltd. Baloise shareholders will receive 1.0119 new Helvetia shares for each Baloise share held. The combined company will be listed on the SIX Swiss Exchange under the ticker symbol "HBAN" .
The merger is expected to yield annual pre-tax cost savings of approximately CHF 350 million, supplementing existing efficiency programs. The transaction is anticipated to close in the fourth quarter of 2025, pending regulatory approvals.
The Swiss life division mainly serves local individual and corporate clients in Switzerland. Products here are often geared towards traditional life insurance and retirement needs of Swiss residents. For example, Baloise offers Swiss pillar 3a retirement savings policies (tax-advantaged life insurance for individuals), pure risk life cover for families, and full-service employee benefit plans for companies under Swiss law.
These products tend to have features like guaranteed interest rates or bonus participation, aligned with the highly regulated Swiss environment.
Luxembourg and Liechtenstein
These two subsidiaries are the hub for Baloise’s cross-border life insurance offerings, explicitly designed for mobile and international clients. Baloise Vie Luxembourg, established in the 1990s, and Baloise Life (Liechtenstein) AG (founded 2007) operate under EU/EEA insurance regulations, which means they can “passport” life insurance services across Europe.
They collectively distribute tailor-made life insurance solutions in numerous countries, including key EU markets (Luxembourg, France, Belgium, Italy, Spain, Germany, etc.) and even Switzerland. The focus of these units is wealth management-oriented life insurance.
Unlike the more conservative Swiss policies, Luxembourg/Liechtenstein contracts are predominantly unit-linked (investment-linked) and highly customizable. They allow integration of various asset types via “internal funds” or “dedicated funds”, providing the kind of flexibility HNWIs require for large policies.
Financial situation
Baloise ended 2024 in a strong financial position, with profit attributable to shareholders rising by 61% to CHF 384.8 million and EBIT climbing to CHF 545.3 million, a 58% increase year-on-year. Return on equity reached 13.9%, aligning with the firm’s long-term target of 12–15%. Total business volume was stable at CHF 8.6 billion despite currency headwinds. The group maintained a robust capital base, with equity growing to CHF 7.63 billion and its Swiss Solvency Test (SST) ratio exceeding 200%, confirming high resilience. Baloise also reaffirmed its A+ credit rating with a stable outlook from S&P.