Swiss Life Reports Solid Growth in 2024 Half-Year Results

Swiss Life has released its financial results for the first half of 2024, showing a notable increase in key performance metrics. The adjusted profit from operations rose by 7% to CHF 883 million, up from CHF 828 million in the previous year. Net profit recorded a slight increase to CHF 632 million from CHF 630 million.

The fee result saw a significant boost, up by 17% to CHF 395 million, largely driven by strong performances from Swiss Life Asset Managers and Swiss Life France. The return on equity improved to 17.8%, compared to 15.8% last year. Cash remittance to the holding company surged by 19% to CHF 1.26 billion.

However, the Swiss Solvency Test (SST) ratio saw a decrease to around 205% as of June 30, 2024, from 212% at the beginning of the year. In personnel news, Per Erikson is set to become the new Group CIO and CEO of Swiss Life Asset Managers starting April 2025.

Overall, these results indicate that Swiss Life is on track with its "Swiss Life 2024" programme, exceeding targets in cash remittance and share buyback efforts.