Swiss Life Holding ( (SWSDF) ) has released its Q3 earnings. Here is a breakdown of the information Swiss Life Holding presented to its investors.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Swiss Life Holding, headquartered in Zurich, is a leading European provider of life insurance, pensions, and financial solutions, offering a broad range of products and services to individuals and corporations across its core markets in Switzerland, France, and Germany.
In the first nine months of 2024, Swiss Life reported continued growth with fee income reaching CHF 1.88 billion, representing a 6% increase in local currency, and premiums totaling CHF 15.9 billion, up 4% in local currency. The company also achieved direct investment income of CHF 3.08 billion, with a robust SST solvency ratio of approximately 205% as of September 2024.
Key highlights include Swiss Life’s successful expansion in its fee business, notably in France where premiums rose by 12% and fee income grew by 16%. In Germany, fee income increased by 10%, while the International market witnessed a decline in both premiums and fee income. Swiss Life Asset Managers also reported growth, with fee income at CHF 699 million and a significant increase in third-party asset management contributions.
Looking forward, Swiss Life is on track to exceed its financial targets under the ‘Swiss Life 2024’ program. The company anticipates surpassing its goals for return on equity and dividend payout ratio, while aiming for the lower end of its target range for fee results. An upcoming Investor Day will outline the new strategic and financial targets for the next three years.
