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8. Underrated Insurers
A further sign of banks' diminished stature is the fact that insurers are now responsible for a larger part of Swiss gross domestic product than traditional money managers. The development is encouraging, and underscores that Switzerland has a rich finance industry besides banks that is internationally very competitive.
Switzerland's standing in finance hub rankings wouldn't be quite as one-sided if the underrated and under-appreciated disciplines of insurance and reinsurance (pictured: Swiss Re in Zurich) were included. Besides London, no city outside Asia has bundled as much insurance expertise in one place as Zurich.
