Swiss Life Holding Ltd

Latest Results (18.03.2026):

Swiss Life Holding Ltd — Annual results for the financial year 2024 (this is an annual report for FY 2024, not a quarterly statement). The Group delivered a strong full‑year result: net profit of CHF 1.3 billion (+13% y/y) and adjusted profit from operations CHF 1.8 billion (+20%). Fee result rose sharply to CHF 875 million (+33%), premiums were CHF 20.3 billion, and the Group finished 2024 with a contractual service margin (CSM) of CHF 14.4 billion and third‑party assets under management of CHF 125 billion.

Headline profitability

Net profit: CHF 1.261 billion (up 13% vs. 2023). Profit from operations: CHF 1.783 billion (adjusted, up c.20%). Return on equity: 16.6% (well above prior target ranges).

Fee business and revenues

Fee result: CHF 875 million (+33%), driven largely by Swiss Life Asset Managers. Fee and commission income: CHF 2.492 billion (fee income up ~5% in local currency). Third‑party AUM: CHF 125 billion; net new third‑party assets: CHF 9.5 billion.

Insurance volumes and CSM

Gross written premiums: CHF 20.3 billion (+3% in local currency). Contractual service margin (CSM) as at 31 Dec 2024: CHF 14.4 billion (down from CHF 15.4 billion at end‑2023).

Investment income and yields

Direct investment income: CHF 4.1 billion (direct investment yield 2.9%). Net investment yield: 2.6% (up from the prior year’s net yield).

Capital returns to shareholders

Cash remittance to the holding: CHF 1.308 billion in 2024. Dividend payout ratio proposed: 81% (Board proposes CHF 35 per share). Share buybacks: CHF 1.3 billion executed under prior programme, plus a new CHF 750 million buyback launched Dec 2024 (through May 2026).

Segment — Switzerland

Segment result: CHF 854 million (2024). Fee result CHF 55 million (stable y/y). Gross written premiums CHF 9.911 billion. Cash remittance from Switzerland: CHF 741 million (up 31% y/y).

Segment — France

Segment result: CHF 319 million (up from CHF 199 million), helped by repricing and improved health/protection loss ratios. Fee result CHF 174 million (+13% in local currency). Premiums grew to CHF ~7.4 billion (c. +11% in local currency).

Swiss Life Asset Managers

Asset Managers segment result: CHF 446 million (up 64%), with strong TPAM performance and real‑estate project development contributions. Total Asset Managers income: CHF 1.2 billion (+22%).

People, strategy and post‑period items

Workforce: ~10 850 full‑time equivalents and c.17 628 advisors. Strategic outlook: “Swiss Life 2027” launched Dec 2024 with targets including fee result > CHF 1 billion, ROE 17–19%, cumulative cash remittance CHF 3.6–3.8 billion (2025–2027), and dividend payout >75%. Post‑period: acquisition of ZWEI Wealth Experts AG announced 12 Feb 2025 and senior bond issuance in Jan/Mar 2025 (noted as post‑report events).