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Sanitas Group Reports Profit Surge and Policyholder Growth

Sanitas Group Reports Profit Surge and Policyholder Growth

Thu, Apr 25th 2024

After a dip in 2022, Sanitas Group bounces back with a strong profit in 2023 and significant growth in policyholder numbers.

KEYSTONE/Christian Beutler

The Sanitas Group recovered from the slump in profits in 2022 and earned significantly more again in 2023. The Group gained over 40,000 new policyholders at the start of 2024.

On balance, the Zurich-based health insurer made a profit of CHF 38.3 million last year after a surplus of just CHF 8.3 million in the previous year. The profit was significantly higher in 2021 at CHF 90.2 million thanks to a very good investment result at the time.

According to a statement issued on Thursday, the main contributor to last year’s result was supplementary insurance with a technical result of CHF 79.2 million.

Basic insurance, on the other hand, posted an underwriting loss of 65.5 million francs. Premium income rose by 2.7% to 3.15 billion francs.

Consolidated equity rose by 3.5% to 1.09 billion Swiss francs.

The number of KGV policyholders at the beginning of the new year rose by around 40,500 to a total of just over 638,200, while supplementary insurance increased by just under 1,200 to around 663,900.

©Keystone/SDA

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