Swiss Life generated premiums of 15.2 billion Swiss francs ($16.6 billion) in the first nine months of the year. This represents a 2 percent decline in local currency, the life insurer said  in its results Tuesday.

There was a 15 percent drop in premiums compared to the same nine months of the previous year, which occurred in its full insurance business, related to occupational pensions with Swiss companies.

The trend was already visible in the first half of the year.

New strategy

Income from advisory fees from its fee business - an area the insurer has a focus on - climbed 15 percent to 1.64 billion francs in the first nine months.

The fund arm, Swiss Life Asset Managers, generated 5 percent more fees and net new money inflows of 6.3 billion francs.

CEO Patrick Frost, said he was convinced that the company would achieve or exceed its financial targets for 2021.

Swiss Life will present its new strategy at its investor day November 25.