Life insurer Swiss Life exceeds return target
Swiss Life’s net profit is up 16 percent over the past year increased to 1.46 billion Swiss francs. The dividend is to be raised to CHF 30 (previous year CHF 25) per share, as the largest listed Swiss life insurance company announced on Wednesday. Premium income fell to 19.6 (20.2) billion Swiss francs due to the unfavorable currency trend.
The Zurich-based group is continuing to expand its lucrative wealth management and service business: the earnings contribution from the commission and fee business increased by nine percent after currency adjustments. At 12.8 (11.0) percent, the return on equity (ROE) adjusted for special items was above the target range of ten to twelve percent. Swiss Life is on course to meet or exceed its financial targets for the period 2022 to 2024.