Swiss Life with better result in the first half of the year
Published: Tuesday, Sep 3rd 2024, 07:30
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Swiss Life achieved a net profit of CHF 632 million in the first half of 2024, slightly above the previous year's level. Adjusted profit from operations rose by 6 percent to 883 million, as the financial group announced on Tuesday.
In the business with financial advice, the sale of pension products and asset management, which was recently slowed somewhat by rising interest rates, fee income rose by 5 percent to CHF 1.26 billion and the corresponding result even increased by 15 percent to CHF 395 million.
Swiss Life's figures were clearly better than analysts had expected. On average, they had expected a net profit of CHF 606 million and an operating profit of CHF 825 million.
Swiss Life believes it is still on course to "achieve or even exceed" all the targets set in the "Swiss Life 2024" strategy program. The Group's equity ratio stands at 17.8%, with a target of between 10% and 12%. The lower end of the corridor of CHF 850 to 900 million is still being targeted for the fee result.
Swiss Life intends to present a new three-year strategy program with new medium-term targets at an investor meeting at the beginning of December.
©Keystone/SDA
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