The Swiss Life Group’s 2024 financial year at a glance
Business development
Swiss Life achieved a strong annual result for 2024, increasing its net profit by 13% to CHF 1.3 billion. Adjusted profit from operations came to CHF 1.8 billion, an increase of 20%. Swiss Life expanded its income from fee business by 5% in local currency to CHF 2.5 billion. The fee result increased by 33% to CHF 875 million, due in particular to the very strong performance achieved by Swiss Life Asset Managers. Premiums came to CHF 20.3 billion – a rise of 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 14.4 billion as at 31 December 2024. Third-party assets under management came to CHF 125 billion as at the end of 2024, while net new assets stood at CHF 9.5 billion. With its 2024 annual result, Swiss Life also successfully concluded the three-year “Swiss Life 2024” Group-wide programme, not only meeting its financial targets, but also largely exceeding them.
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. Swiss Life Select, Tecis, Horbach, Proventus and Chase de Vere advisors also broker suitable products from partner companies for customers. Swiss Life Asset Managers offers institutional and private investors access to investment and asset management solutions. Swiss Life provides multinational companies 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 2024, the Swiss Life Group had a full-time workforce of around 11 000 worldwide and a network of around 17 000 advisors.