Allianz Trade expects an increase in insolvencies in Switzerland
Published: Tuesday, Oct 15th 2024, 09:50
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The number of insolvencies is likely to continue to rise worldwide, including in Switzerland. This is the conclusion reached by the experts at credit insurer Allianz Trade.
According to the Allianz Trade Insolvency Report published on Tuesday, the number of insolvencies in Switzerland is expected to rise by 11% this year. This puts Switzerland in line with the global insolvency forecast. The situation is not expected to ease until 2025, with a decline of around 1 percent.
In the following year, the number of corporate insolvencies is even expected to fall by 8%. Nevertheless, the absolute figures are still likely to be above the level of 2018 to 2019. The high number of insolvencies is due to both the strong franc and the ongoing economic uncertainties and global market conditions.
Global rise in insolvencies
Worldwide, insolvencies are not expected to peak until 2025 and then slowly decline from 2026. The main drivers of the global trend are the USA, but Russia, China, Taiwan, Germany and Italy are also expected to contribute to this development. Although a gradual easing of monetary policy could provide some relief, it is not a panacea for ailing companies.
Global corporate insolvencies have already risen by 9% for 2024 and are likely to be 13% above the average for the years before the pandemic (2016 - 2019) by the end of the year. This is partly due to subdued global demand and partly because there is still a backlog of insolvencies due to the support measures introduced during the pandemic and the energy crisis that are now coming to an end.
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