The Swiss Life Group is one of Europe’s leading comprehensive life and pensions and financial solutions providers. Swiss Life’s success is based on a strong purpose, a clear strategy, the disciplined execution of Group-wide programmes and a charismatic brand.

Swiss Life addresses a fundamental human need

With its commitment, advisory services and comprehensive life, pensions and investment solutions, Swiss Life enables people to lead a financially self-determined life. In doing so, the company builds financial confidence and addresses the fundamental human need for self-determination and independence. Results of market research carried out by Swiss Life confirm this, showing that being able to lead a self-determined life and decide freely leads to greater satisfaction and confidence. The results also show that most people are aware that when it comes to pension provision, they are largely responsible for their own financial security.

Since 2019, Swiss Life has been using the “Swiss Life self-determination barometer” to survey how self-determined people feel and how they expect their level of self-determination to change in the future. There are noticeable local differences in Swiss Life’s core markets. In Switzerland, for example, the value for self-determination remained stable in 2023, whereas it increased slightly in France. In Germany, it fell as a result of economic uncertainties, as did financial confidence.

Demographics make pension provision a growth market

The impact of an increasingly ageing population coupled with high levels of debt in the pension systems of many countries is generally underestimated. Consequently, pension and insurance shortfalls are on the rise worldwide. As a result, people have to take more responsibility for their own pension-related provisions.

Pension solutions and advice are therefore a growth market. People depend on support and advice to address pension gaps and risks in a self-determined manner. In this environment, Swiss Life’s work, advice and products will continue to grow in importance. Swiss Life therefore sees growth opportunities and differentiation potential in the market for pension solutions and advice.

Unique market position

The company’s unique positioning is fundamental to its further development: Swiss Life has a strong foothold as a provider of pension solutions and financial services in attractive European markets. The expertise of some 17 000 advisors distinguishes the company from its competitors. In recent years, Swiss Life has emphatically demonstrated that it can achieve resilient returns and improve results despite a challenging backdrop and has adapted its product portfolio to the market environment. In addition, Swiss Life Asset Managers provides Swiss Life with a fast-growing asset management business with particular strengths in the area of real assets. The result is a business model with multiple profit sources. In 2023, which was a challenging year due to the changed interest rate environment and subdued real estate markets, Swiss Life again demonstrated the resilience of its business model.

Swiss Life’s business model is oriented to long-term and profitable growth. Its focus is on earnings growth and earnings quality as well as efficiency and financial strength. With the consistent implementation of its multi-year strategy programmes, Swiss Life ensures that the long-term value propositions made to its customers are fulfilled and that it creates sustainable value for its shareholders and other stakeholder groups.

Swiss Life offers its customers a wide range of solutions for their financial security and future provisions. Swiss Life’s advisory and product strategy and value chain are presentend in the “Sustainability in Insurance and Advisory” section. In view of its varied positioning in the relevant markets, Swiss Life adopts a multi-divisional approach. In its segment reporting, the company also provides insights into business performance and describes the strategic focus areas of the individual divisions.

Successful implementation of the Group-wide programmes

Swiss Life has successfully completed its last four Group-wide programmes “Milestone” (financial targets for 2009–2012), “Swiss Life 2015” (2013–2015), “Swiss Life 2018” (2016–2018) and “Swiss Life 2021” (2019–2021).

Swiss Life regularly reports in detail on the current status of its strategic implementation, inclu­ding during its annual and half-year reporting. The documents are available on the website under “Investors and Shareholders”.

Objectives for “Swiss Life 2024”

In November 2021, Swiss Life revealed its Group-wide programme, “Swiss Life 2024”. With this programme, Swiss Life is systematically continuing its successful path of recent years, focusing on deepening customer relationships, expanding its advisory organisations, establishing operational scalability and consolidating its sustainability strategy.

With “Swiss Life 2024”, the company aims to expand its product and service offering in the areas of savings, pension provision, coverage of risks as well as investment solutions. Excellent advice remains the key success factor: accordingly, the Group intends to continue investing in strengthening its advisory organisations and improving operational efficiency in all areas – including through investments in technology and digitalisation, particularly in the use and ongoing development of customer, advisor and back-office platforms. All divisions are striving to improve their operational efficiency and, in particular, exploit operational scalability in their respective divisional fee business. Swiss Life also set itself additional sustainability goals to be achieved by 2024. Priority is given to areas in which the company can exert direct influence. The sustainability strategy is presented in detail in the Sustainability Report.

Substantial increase in the fee result and return on equity

With “Swiss Life 2024”, Swiss Life also set itself ambitious financial targets and significantly increased the corresponding targets compared to the previous programme: it is aiming to increase its fee result to CHF 850–900 million in 2024 (“Swiss Life 2021”: CHF 600–650 million) and to achieve an adjusted return on equity of 10–12% (“Swiss Life 2021”: 8–10%). In addition, Swiss Life is targeting a cumulative cash remittance to the holding company from 2022 to 2024 of CHF 2.8–3.0 billion (“Swiss Life 2021”: CHF 2.0–2.25 billion) and a dividend payout ratio of over 60% from 2022 (“Swiss Life 2021”: 50–60%).

“Swiss Life 2024” well on track

In terms of the “Swiss Life 2024” Group-wide programme, Swiss Life is well on track to achieve or exceed all of the Group’s financial targets. At 13.7% in 2023 (previous year: 12.1% on a comparable basis), the return on equity was again above the target range of 10–12%; Swiss Life also expects to be above the range in 2024. The cash remittance to the holding company increased by 14% last year to CHF 1.15 billion, meaning the Group-wide programme’s target of a cumulative cash remittance of CHF 2.8–3.0 billion is likely to be significantly exceeded. With respect to the dividend payout ratio of over 60%, Swiss Life is also ahead of its programme target. The CHF 1 billion share buyback programme under “Swiss Life 2024” was successfully completed at the end of May 2023, while the additional share buyback programme of CHF 300 million announced on 6 September 2023 will be completed as planned at the end of March 2024. In terms of the fee result, Swiss Life expects to reach the lower end of the CHF 850–900 million target range, this being reliant on the expected normalisation of the real estate markets in Germany and France.

The value of new business increased to CHF 515 million in 2023 (previous year: CHF 497 million). The new business margin rose to 4.0% (previous year: 3.5%) due to the positive interest rate development and an improved volume and business mix. As at 1 January 2024, the Swiss Life Group had an SST ratio of around 210% (previous year: 215%). The solvency ratio was thus above the ambition range of 140–190%.

Swiss Life will hold an Investor Day on 3 December 2024 to provide information on the company’s new strategic priorities and the associated financial objectives after “Swiss Life 2024”.

A charismatic brand

The success of the Swiss Life brand is driven by consistency in brand strategy and management. Building on the corporate strategy and positioning as a provider of comprehensive life and pensions and financial solutions, the Swiss Life umbrella brand, complemented by its sub-brands Swiss Life Asset Managers, Swiss Life Banque Privée, Swiss Life Global Solutions, Swiss Life Select and Swiss Life Wealth Managers, provides orientation and instils trust. In all our brand endeavours, we remain guided by the purpose: enabling people to lead a financially self-determined life.

The brands are allocated to various levels in a clear brand hierarchy. The strategic management of the entire brand portfolio is an integral part of Group Communications. The brand hierarchy is reviewed continuously, and adjustments are made as needed.

While the umbrella and sub-brands are managed centrally, brand management at levels 3 (“Endorsement”) and 4 (“Individual brands”) is performed directly in the relevant divisions. In 2023, the UK real estate investment manager Mayfair Capital was fully transferred to the Swiss Life Asset Managers sub-brand and the pensions and financial services provider Fincentrum in the Czech Republic to the Swiss Life Select sub-brand. By contrast, the “Pando” 3a app was withdrawn from the market.

Corporate identity and design

A clear corporate identity (CI) defines how Swiss Life wishes to present itself to the public. This includes a brand personality that reflects the Swiss Life value system. The purpose is supported by the three values of individuality, confidence and reliability, which place customers at the heart of activities. The corporate identity also includes a universal language style and a compulsory corporate design (CD), with a logo, colour palette, fonts, icons and image catalogue, all of which ensure a uniform brand presence.

The corporate design is derived from the brand personality and, in addition to ensuring recognisability and orientation, also contributes to a uniform brand experience. Whether they are browsing the website, reading a brochure or looking at an advert, the aim is for stakeholder groups to gain a consistent, high-quality impression of Swiss Life at all contact points. In 2023, for example, the image catalogue was expanded along the themes of Swissness, sustainability and infrastructure. It sets Swiss Life apart from the competition and creates a sense of belonging.

With its clear corporate design guidelines, Swiss Life ensures a uniform presence at all brand contact points. This allows people to independently experience the Swiss Life brand at all points of contact within the defined guidelines. The binding CI/CD guidelines are available in a user-friendly format on our online brand platform and are widely accessible both internally and externally.

Brand identity

Swiss Life’s brand identity supports the strategic priorities of the individual divisions. In the home market of Switzerland, Swiss Life focuses on sports and cultural sponsorship in addition to classical advertising. Swiss Life has been the main sponsor of ZSC Lions ice hockey club for some years. The club is part of one of the biggest ice hockey organisations in Europe with a well-respected youth development programme. Since 2019, Swiss Life has also lent its name to the “Swiss Life Arena” ice hockey stadium in Zurich, where the ZSC Lions have played their home games since October 2022. In the cultural arena, film is the cornerstone of its commitment: Swiss Life sponsors events including the Locarno Film Festival.

Together with the distribution companies Swiss Life Select and Proventus, Swiss Life Germany helps sport at grassroots level by supporting local amateur clubs. The company also regularly sponsors sporting events.

Since 2021, the focus has increasingly shifted towards classic digital and analogue advertising campaigns. In Switzerland, Swiss Life continues to focus on the emotionalisation of its purpose. The “Home & living” campaign launched in 2021 was also further expanded in 2023. This campaign positions Swiss Life as a comprehensive advisor for people wishing to live a financially self-determined life in their own home, including providing all the relevant information from home financing to purchase. In the divisions France, Germany, International and Asset Managers, the campaigns also focused on the emotionalisation of Swiss Life’s purpose.

Worldwide brand protection and assessment

People need to be confident that, wherever they see the Swiss Life logo and name, it is indeed Swiss Life and its high-quality products and services that are behind them.

To protect its brand, Swiss Life has therefore put processes and tools in place to prevent third parties from using its intellectual property – the Swiss Life brand – without its approval anywhere in the world at any time. A Cyber Threat Intelligence (CTI) service systematically monitors and detects potential cyber threats to the Swiss Life brand and its digital assets. Furthermore, the domains are managed via a uniform registration service, while social media, review and rating websites are continually monitored. Swiss Life’s trademarks are enforced and monitored for potential infringements from newly registered trademarks or those registered by third parties.

Independent institutes continuously measure people’s awareness and perception of the Swiss Life brand locally. Swiss Life also regularly assesses the anchoring of its purpose among the general public and other strategic segments, among customers following interaction with Swiss Life and also internally among its employees. The findings are used to develop and adjust marketing and communication measures on an ongoing basis. This is supplemented by regular internal studies of brand value, which demonstrate the development of the brand’s value based on a wide range of factors.