Swiss Life generated a net profit of 1.26 billion Swiss francs in the last financial year 2024. Compared to the previous year, this represents an increase of 13 percent, as can be seen from the figures published on Friday.

Adjusted operating profit even rose by 20 percent to 1.78 billion francs.

Fee income rose by 5 percent in local currency to 2.49 billion francs compared to the previous year. The fee result in local currency rose significantly. It increased by 33 percent to 875 million francs. This was due in particular to the «very strong development at Swiss Life Asset Managers», the report continues.

Permium income amounted to 20.3 billion francs, an increase of 3 percent in local currency.

Ongoing Program Successfully Completed

«I am pleased about a strong financial year 2024, in which we were able to increase the fee result, operating profit and net profit as well as the cash transfer to the holding company. With these annual financial statements, we have successfully concluded our ‹Swiss Life 2024› corporate program in every aspect,» says Group CEO Matthias Aellig.

All Divisions Contributed to the Increase

All divisions contributed to the strong business performance in 2024, writes the Group. In the Swiss market, Swiss Life's premium income remained virtually stable at 9.91 billion francs (previous year: 9.94 billion). Assets under management in the semi-autonomous business reache 7.78 billion francs at the end of 2024 after 7.11 billion francs at the end of 2023. This represents an increase of 9.4 percent. The fee result remained unchanged at 55 billion francs and the segment result rose by 2 percent to 854 billion francs.

In France, premium income increased by 11 percent to 7.77 billion euros. In the life business, the increase amounted to 14 percent. The fee result grew by 13 percent to 182 million euros and the segment result rose sharply by 64 percent to €335 million. Price adjustments in the health insurance and risk provision business are cited as one reason for this.

In Germany, premium income increased in line with the market by 3 percent to €1.51 billion and the fee result by 5 percent to €120 million. The segment result remained stable at €193 million.

The International market unit recorded a decline in premium income of 4 percent to €1.72 billion. However, here too, both the fee result rose by 26 percent to €90 million and the segment result by 18 percent to €118 million.

Asset Managers with Significant Increase in Results

Swiss Life Asset Managers significantly increased its segment result by 64 percent to 446 million francs. Reference is made to the «sehr starken Entwicklung» of the third-party business (TPAM), particularly in the area of real estate project developments. Total income rose by 22 percent to 1.16 billion francs, of which 802 million francs (previous year: 621 million francs) came from the TPAM business. Here, assets under management grew to 125 billion francs from the previous 112 billion.

Shareholders should also benefit from the successful business performance. A dividend of 35 francs per share will be proposed to the Annual General Meeting, compared to 33 francs last year.