Table 1

Estimation of the non-life profitability gap

US Canada UK Germany France Italy Japan
 
A Investment yield, 2019
3.1% 2.7% 2.2% 2.0% 2.1% 2.9% 2.3%
B Profitability gap 2019, % of net premiums
–6.2% –8.9% –8.8% –9.3% –5.8% –8.4% –6.8%
C Drop in 10-yields, 2019–2021
–1.1% –0.7% –0.7% –0.2% –0.4% –1.1% 0.0%
D Change in profitability gap
–3.1% –1.5% –2.5% –0.7% –1.5% –3.1% –0.0%
E Profitability gap 2021, % of net premiums
–9.3% –10.5% –11.2% –10.0% –7.3% –11.5% –6.8%

Source: Swiss Re Institute.