The Swiss Life Group’s 2023 financial year at a glance

Business development

Swiss Life continued to perform well in 2023: on a comparable basis (2022 profit figures under IFRS 17 and IFRS 9), the Group increased net profit by 8% to CHF 1.1 billion and its adjusted profit from operations amounted to CHF 1.5 billion. Swiss Life expanded its income from fee business in local currency to CHF 2.4 billion (+3%). The fee result fell by 13% in local currency compared to the previous year to CHF 664 million. This is due in particular to a subdued real estate market environment in Germany and France and thus to lower revenues from project developments and real estate transactions in the year under review. Premiums in 2023 came to CHF 19.8 billion (+3% in local currency). The contractual service margin (CSM), which indicates the level of future, as yet unearned profit contributions from existing insurance business, came to CHF 15.4 billion as at 31 December 2023. Net new assets from third-party business came to CHF 9.8 billion, while third-party assets under management amounted to CHF 112 billion as at the end of 2023.

Markets

As a leading European provider of comprehensive life and pensions and financial solutions, the Swiss Life Group enables people to lead a financially self-determined life. In Switzerland, France and Germany, Swiss Life offers individuals and its corporate customers comprehensive and individual advice plus a broad range of proprietary and partner products through its sales force and distribution partners such as brokers and banks. The Swiss Life Select, tecis, Horbach, Proventus and Chase de Vere advisors choose suitable products for customers from the market according to the Best Select approach. Swiss Life Asset Managers offers institutional and private investors access to investment and asset management solutions. Swiss Life provides multinational corporations with employee benefits solutions and high-net-worth individuals with structured life and pensions products. A number of subsidiaries are also part of the Swiss Life Group.

Employees

At the end of 2023, the Swiss Life Group had a full-time workforce of around 10 000 worldwide and a network of around 17 000 advisors.