Liechtenstein financial market maintains growth course
Last year, the Liechtenstein financial center recorded a year-on-year increase in income and assets under management. The country’s premium income from insurance undertakings was also up. These results are taken from the latest Annual Report of the Financial Market Authority Liechtenstein.
According to a press release from the Financial Market Authority Liechtenstein (FMA) on its Annual Report, which was published on Wednesday, “the Liechtenstein financial center – with its strong international linkages – developed well in 2018” and remained on a growth trajectory despite “persistently high regulatory pressure”. The country’s banking sector saw a rise of 4 percent in assets under management on the previous year to 305.2 billion Swiss francs, it was reported. Net new money inflows including acquisitions at Liechtenstein’s banks amounted to 33.4 billion francs. Income generated by the banking sector totaled 579 million francs, up 4 million francs on 2017.
The FMA also revealed that “for the first time after a downward trend lasting more than six years, more funds were registered than in the previous year” in 2018. Nevertheless, the fund sector recorded declines in fund volume due to negative market developments. Net assets under management were also down slightly year on year to 50.4 billion francs.
However, the total premium income of Liechtenstein’s insurance undertakings in 2018 rose by 300 million francs to 5.42 billion francs. In this area, the greatest growth was seen in non-life insurance, with a premium increase of 12.3 percent.