Swiss Life continues positive growth in Q3 2018

In the first nine months of 2018, Swiss Life Group generated fee income totalling CHF1156m (previous year: CHF1035m). Local currency growth of 7% is attributable to higher contributions from our own advisory channels (+10%) and our own and third-party products and services (+6%).

Group-wide premium income increased by 4% in local currency to CHF14.7bn in the first three quarters (previous year: CHF13.8bn). The main drivers for the increase were the life business in France and the corporate customer sector in Switzerland. The technical provisions for the benefit of the insured increased by 2% in local currency.

In Switzerland, Swiss Life generated premium income of CHF7.8bn (previous year: CHF7.6bn), a growth of 3%. In the corporate customer business, growth was 3% and in the private customer segment 1%. In the Fee business, revenues increased by 7% to CHF182m (previous year: CHF170m).

Swiss Life in France generated premium growth of 11% in local currency to CHF4.3bn (previous year: CHF3.7bn). The main reason for the increase was the growth of 17% in the life business, where the proportion of new business unites was 64%. Fee income in local currency increased by 5% to CHF240m (previous year: CHF216m). In Germany, premium income in local currency increased by 2% to CHF986m (previous year: CHF911m). Fee income rose 15% to CHF332m (previous year: CHF272m) thanks to growth in independent advisory channels in local currency.

The international unit posted premium income of CHF 1.6bn (previous year: CHF1.6bn), down 9% in local currency terms. Fee income increased by 7% to CHF184m (previous year: CHF164m).

In its third-party investment business, Swiss Life Asset Managers generated net new money inflows of CHF5.2bn in the first nine months of 2018 (previous year: CHF7.0bn). Third-party assets under management were CHF66.3bn as of 30 September 2018, up 8% from year-end 2017 (CHF61.4bn). Overall, Swiss Life Asset Managers generated fee income of CHF468m in the first three quarters of 2018 (previous year: CHF455m).

ABOUT THE AUTHOR
Ridhima Sharma
Ridhima Sharma speaks German and is DACH Correspondent for InvestmentEurope. She has more than 8 years of experience in the media industry. Before joining us, she was working in India and covering automotive and lifestyle sectors. Over the years many of her stories have been published in various magazines across India.

Read more from Ridhima Sharma

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