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The Financial System of Liechtenstein

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Liechtenstein is a small country located between Switzerland and Austria, known for its financial stability and growth. In this article, we will take a closer look at the banking, asset management, and insurance sectors in Liechtenstein.

Banking Sector

The banking sector in Liechtenstein has experienced steady growth over the years. Here are some key statistics:

  • Number of Banks: There are 16 banks operating in Liechtenstein, managing assets worth CHF 48.19 billion.
  • Stable Market Share: The number of banks has remained stable since 2002, indicating a healthy market share.
  • Increased Tier 1 Capital: The Tier 1 capital of these banks has increased to CHF 5.19 billion, signifying improved financial stability.
  • Growing Net Income: The net income of these banks has grown to CHF 710 million, reflecting their profitability.

Asset Management Sector

The asset management sector in Liechtenstein is also thriving, with many licensed companies managing assets worth billions:

  • Number of Licensed Companies: There are 48 licensed asset managers operating in Liechtenstein.
  • Assets under Management: These companies manage an estimated CHF 173.38 billion in assets.
  • Growing Market Demand: The number of applications pending for new licenses is 33, indicating a growing demand for asset management services.

Insurance Sector

The insurance sector in Liechtenstein has also experienced significant growth:

  • Number of Insurance Companies: There are 35 insurance companies operating in Liechtenstein, including life, non-life, and reinsurance companies.
  • Life Insurance Dominance: Life insurance companies account for more than 90% of aggregate premium and insurance company assets.
  • Unit-Linked Life Insurance: Unit-linked life insurance is the main product, accounting for over 85% of insurance company assets.
  • Gross Premiums Written: The gross premiums written by all insurance undertakings were CHF 6.8 billion in 2006.

Conclusion

In conclusion, the financial system in Liechtenstein appears to be stable and growing, with a strong focus on asset management and life insurance.