CONCORDIA annual report 2017
Persons insured benefit from the financial success of CONCORDIA

Annual Report

2017 was once again an exceptionally successful fiscal year for CONCORDIA. Both companies – CONCORDIA Swiss Health and Accident Insurance Ltd and CONCORDIA Insurances Ltd – achieved a positive result.

The income surplus amounts to CHF 174 million overall. This surplus goes into the reserves, which primarily guarantee the financial stability and the solvency of CONCORDIA. Furthermore, a portion of the reserves is used to alleviate premium increases. Since CONCORDIA is organised under the umbrella of a non-profit association, persons insured by CONCORDIA benefit directly from this excellent result. After making payments of CHF 30 million in 2017 and CHF 27 million in 2018, CONCORDIA will pay out CHF 55 million next year from the reserves to its persons insured with basic insurance in Switzerland. Each adult and each child will have CHF 10 and CHF 2 respectively deducted directly from the monthly premiums. This means that a family of four shall receive CHF 288 in 2019. As a consequence, between 2017-2019, CONCORDIA will have disbursed approximately CHF 112 million from its reserves to its persons insured with basic insurance.

Because of invoice verification, CONCORDIA saved CHF 283 million in the last year. At the same time, regarding the insurances pursuant to the Swiss federal law on health insurance (KVG/LAMal), only 4.8 Swiss centimes from each premium franc were expended for administrative costs; the rest was applied in the form of benefit payments in favour of the insured persons.

Moreover, CONCORDIA welcomed 17,000 new insured persons into the basic insurance scheme.

CONCORDIA Swiss Health and Accident Insurance Ltd and CONCORDIA Insurances Ltd: key figures for the 2017 financial year                                                                                               
Persons with basic insurance in Switzerland and Liechtenstein as of 1.1.2018 618,000
Employees 1,200
Agencies and branches > 200
Overall earnings CHF 174 million
Earnings of CONCORDIA Swiss Health and Accident Insurance Ltd CHF 114 million
Earnings of CONCORDIA Insurances Ltd CHF 60 million
Premiums earned over all classes of insurance CHF 2.7 billion
Benefits paid out  CHF 2.4 billion
KVG/LAMal Combined Ratio 94.6 %
VVG/LCA Combined Ratio  96.4 %
KVG/LAMal Administrative expense ratio 4.8 %

Additional Information