International
Swiss Life International comprises cross-border business for high-net-worth individuals (Global Private Wealth Solutions) and multinational companies (Global Employee Benefits Solutions) under the Swiss Life Global Solutions and elipsLife brands, as well as the independent financial services providers Chase de Vere in the United Kingdom and Swiss Life Select in Austria, Slovakia and the Czech Republic.
In the reporting year, the International segment posted a result of CHF 98 million (previous year: CHF 108 million). The fee result for Swiss Life International declined to CHF 69 million (–14% in local currency). The cash remittance to the holding company was increased by 1% in local currency, reaching CHF 62 million.
The Global Private Wealth Solutions area, with insurance companies in Luxembourg, Liechtenstein and Singapore, specialises in life insurance solutions for high-net-worth individuals and had assets under management of CHF 17.8 billion as at the end of 2023 (previous year: CHF 18.3 billion).
The Global Employee Benefits Solutions area focuses on risk, pension and healthcare solutions for multinational companies. Positive risk and volume development led to higher profitability in the reporting year. The integration of elipsLife also had a positive impact on the result. With a presence in Luxembourg, the Netherlands, Switzerland and Italy, the business is focusing on further expanding offerings in the fields of biometric risk and health solutions for selected European markets.
The fee result for the independent financial advisors in the United Kingdom and Central and Eastern Europe decreased by 10% in local currency to CHF 39 million. This decline is due to lower revenues from mortgage business, which were partly offset by higher revenues from high-margin products (life insurance, pension and fund solutions).
In 2024, Swiss Life International wants to expand its solutions and services in order to increase the fee and insurance results. With innovative insurance solutions and flexible business platforms, Swiss Life International is well positioned to meet the needs of existing partners and customers and to expand its business.
Key figures for International
| In CHF million | ||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | +/– | ||||
| Segment result | 98 | 108 1 | –9% | |||
| Fee result | 69 | 84 1 | –17% | |||
| Cash remittance to Holding | 62 | 64 | –3% | |||
| Fee and commission income | 375 | 375 | 0% | |||
| Gross written premiums | 1 741 | 1 352 | 29% | |||
| Contractual service margin | 97 | 112 | –13% | |||
| Number of full-time equivalents | 1 312 | 1 395 | –6% | |||
