Swiss Life Holding AG
Swiss Life Holding AG
- ISIN: CH0014852781
- Land: Schweiz
Nachricht vom 09.11.2021 | 07:00
Swiss Life increases fee income by 15% in the first three quarters
Swiss Life Holding AG / Key word(s): Quarter Results
Zurich, 9 November 2021
"We were able to continue on our successful path and further expand our business in those areas of strategic relevance to us," says Patrick Frost, Group CEO of Swiss Life. "The growth of our fee income is broadly based, and all divisions contributed to it. We are convinced that we will achieve or exceed our financial targets under our "Swiss Life 2021" Group-wide programme. This puts us in an excellent position to further develop Swiss Life successfully. In addition, we will present our goals for the next strategic period at the Investor Day on 25 November 2021."
All divisions increase fee income
Premiums came to CHF 15.2 billion. The 2% decrease in local currency is mainly due to the development in Switzerland.
In its home market of Switzerland, Swiss Life achieved premiums of CHF 7.7 billion. The 15% decline is mainly due to lower single premiums in the full insurance business. Semi-autonomous business, which is largely not reported as premiums, was by contrast expanded by 20% to CHF 5.5 billion in assets under management. Fee income came to CHF 242 million, an increase of 13%. Swiss Life in France increased premiums by 25% in local currency to CHF 5.6 billion. Life business posted an increase of 34%, with the share of unit-linked solutions at 58%. In fee business, the market unit achieved 25% growth in local currency to CHF 312 million. In Germany premiums were up 5% in local currency to CHF 1.1 billion. The fee business was expanded further: fee income was up 20% in local currency to CHF 478 million due to further growth in advisory channels. In the International market unit, premiums came to CHF 810 million and were therefore 16% below the previous year in local currency. Fee income came to CHF 249 million, an increase of 17% in local currency.
Swiss Life Asset Managers generated fee income totalling CHF 667 million in the first three quarters of 2021, an increase of 5% in local currency over the previous year. Of this amount, CHF 383 million comes from TPAM business, which corresponds to a growth of 6% in local currency. In its TPAM business, Swiss Life Asset Managers generated net new assets of CHF 6.3 billion (previous year: CHF 3.8 billion). The company had CHF 100.1 billion in assets under management for third parties as at 30 September 2021 (year-end 2020: CHF 91.6 billion).
Higher net investment income and strong solvency
Investor Day on 25 November 2021
Telephone conference for analysts and investors
Dial-in number for Europe: +41 (0) 58 310 50 00
Key figures as at 30 September 2021
1 Gross written premiums, policy fees and deposits received: total includes intersegment eliminations of CHF -24 m in Q3 2021 and CHF -25 m in Q3 2020; fee income: total includes Other and intersegment eliminations of CHF -312 m in Q3 2021 and CHF -286 m in Q3 2020
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Swiss Life Select, Tecis, Horbach, Proventus, Fincentrum and Chase de Vere advisors choose suitable products for customers from the market according to the Best Select approach. Swiss Life Asset Managers offers institutional and private investors access to investment and asset management solutions. Swiss Life provides multinational corporations with employee benefits solutions and high net worth individuals with structured life and pensions products.
Swiss Life Holding Ltd, registered in Zurich, was founded in 1857 as Schweizerische Rentenanstalt. The shares of Swiss Life Holding Ltd are listed on the SIX Swiss Exchange (SLHN). The Swiss Life Group also includes various subsidiaries. The Group employs a workforce of around 10 000 and has at its disposal a distribution network of some 16 900 advisors.
Cautionary statement regarding forward-looking information
End of ad hoc announcement
|Company:||Swiss Life Holding AG|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1247266|
|End of Announcement||EQS Group News Service|
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