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Insurance in Sweden 2011-2020

Security for the individual – growth for the economy

We are all exposed to risks. It might be the risk of being in a traffic accident or of a fire in your home. It could be theft or long-term illness. Without insurance these events could
entail financial problems for those affected. Insurance makes it possible for private
individuals and businesses to live and work in economically stable conditions.
The idea of insurance is simple: we share the risks. Through insurance a household or
a business pays a premium in exchange for compensation by the insurance company if
an accident should occur. A private individual can also take out insurance that pays a given future income, that is a pension, in exchange for premium payments made today.

This publication provides an overall view of insurance in Sweden and describes its
significance for the national economy. It contains various figures on insurance based
on statistics mainly from Insurance Sweden, Finansinspektionen (the Swedish Financial
Supervisory Authority), Statistics Sweden and the Insurance Industry Employers’
Organisation (FAO). With a few exceptions, they refer to the situation in 2020 or the
past ten years. 

The publication is divided into three parts. The first part concerns non-life insurance and presents for example the number of claims incurred and the amount paid by insurance companies in the form of compensation for various types of claims. The second part concerns pension and life insurance. It shows, for example, how much is paid out in pensions. The final part provides an overall description of the Swedish insurance industry, including the number of employees, the amount of premiums paid in to insurance
companies and how insurance companies invest their assets.