Swiss Life Holding AG
OTC:SWSDF

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Swiss Life Holding AG
OTC:SWSDF
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Price: 1 176.38 USD
Market Cap: 33B USD

Swiss Life Holding AG
Investor Relations

In the heart of Zurich, Swiss Life Holding AG stands as a testament to the enduring power of strategic innovation and prudent financial stewardship in the insurance industry. Founded in 1857, Swiss Life has woven itself into the fabric of European financial services. Originally beginning as a provider of life insurance, the company has grown into one of Europe’s leading comprehensive life and pensions providers. Swiss Life earned its reputation for reliability and security through a keen understanding of risk management and a strong emphasis on customer-centric approaches. By offering life insurance, pensions, and long-term savings solutions, Swiss Life adeptly addresses the evolving needs of its clients, balancing traditional safety nets with forward-thinking financial planning.

The firm thrives by not just selling insurance products but by embedding them into an integrated ecosystem of financial solutions. Their business model is rooted in the collection of premiums, which are then strategically invested to generate returns that cover policyholders' claims and expenses whilst delivering profits. This is complemented by fee-generating services, including asset management for third-party clients, broadening their revenue base beyond traditional insurance premiums. The company's adaptive strategies and diversification across markets in Switzerland, Germany, and France, as well as its presence in asset management and global private placement markets, underpin its sustained growth. Swiss Life's sophisticated investment arm leverages its expertise to manage a comprehensive portfolio, seeking stability and growth across economic cycles, thereby reinforcing the company's resiliency and profitability.

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Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Sep 3, 2025
AI Summary
Q2 2025

Operational Growth: Swiss Life delivered solid operational performance in H1 2025, with growth in both insurance and fee businesses.

Profit from Operations: Profit from operations rose by 3% in local currency to CHF 903 million, driven by a 6% increase in the insurance business operating result.

Net Profit Decline: Net profit fell by 5% to CHF 602 million, mainly due to higher tax expenses, especially from a French corporate tax hike.

Strong Asset Management Flows: Third-party asset management (TPAM) saw robust net new assets of CHF 13.2 billion, up sharply from CHF 1.2 billion last year.

SST Ratio: The Swiss Solvency Test (SST) ratio increased to around 205%, comfortably above the target range of 140% to 190%.

Cash Remittance: Cash remittance fell 8% to CHF 1.17 billion, but after adjusting for last year’s one-offs, underlying growth was 4%.

Share Buyback: The ongoing CHF 750 million share buyback is progressing as planned, set to complete by May 2026.

Guidance On Track: Management confirmed the company is on track to achieve all Swiss Life 2027 program targets.

Key Financials
Profit from Operations
CHF 903 million
Net Profit
CHF 602 million
Gross Written Premiums, Fees and Deposits Received
CHF 12.1 billion
Fee and Commission Income
CHF 1.3 billion
Net Investment Income (insurance portfolio for own risk)
CHF 1.6 billion
Operating Expenses
CHF 1 billion
Return on Equity
17.6%
Cash Remittance
CHF 1.17 billion
SST Ratio
205%
Shareholders' Equity
CHF 6.6 billion
Net New Assets (TPAM)
CHF 13.2 billion
Assets under Management (TPAM)
CHF 138 billion
Direct Investment Yield (non-annualized)
1.5%
Net Investment Yield (non-annualized)
1.2%
Gross Written Premiums (Switzerland)
CHF 6.3 billion
Premiums (France)
EUR 4 billion
Premiums (Germany)
EUR 758 million
Premiums (International)
EUR 1.4 billion
Segment Result (Switzerland)
CHF 458 million
Segment Result (France)
EUR 209 million
Segment Result (Germany)
EUR 121 million
Segment Result (International)
EUR 64 million
Segment Result (Asset Managers)
CHF 145 million
Cash Remittance (Switzerland)
CHF 609 million
Cash Remittance (France)
EUR 182 million
Cash Remittance (Germany)
EUR 102 million
Cash Remittance (International)
EUR 61 million
Cash Remittance (Asset Managers)
CHF 239 million
Assets under Management (semi-autonomous foundations, Switzerland)
CHF 8 billion
Combined Ratio (France P&C)
below 100%
Share Buyback
CHF 373 million repurchased as of August 29, 2025
CSM (after release)
CHF 14.8 billion
Earnings Call Recording
Other Earnings Calls

Management

Mr. Marco Gerussi
Group CFO & Member of Corporate Executive Board
No Bio Available
Mr. Stefan Machler
Group Chief Investment Officer & Member of the Corporate Executive Board
No Bio Available
Mr. Tanguy Polet
CEO of France & Member of the Corporate Executive Board
No Bio Available
Mr. Theo Iaponas
CEO of International & Member of the Corporate Executive Board
No Bio Available
Ms. Heidi Hinterhuber
Head of Investor Relations
No Bio Available
Mr. Robert Moser
Head of Group Controlling
No Bio Available
Mr. José Antonio Blanco
Head of Investment Management for Third-Party Asset Management - Swiss Life Asset Managers
No Bio Available
Mr. Roman Stein
CEO of Switzerland & CFO of Swiss Life Switzerland
No Bio Available

Contacts

Address
ZUERICH
Zurich
General-Guisan-Quai 40
Contacts