Management Report

Swiss Life Holding generated a profit of CHF 1.3 billion in the 2024 financial year (previous year: CHF 1.1 billion).

Swiss Life Holding’s annual profit increased by 14% to CHF 1.3 billion in 2024. Dividend income from subsidiaries rose to CHF 1.2 billion (previous year: CHF 1.1 billion) and interest income on loans granted internally increased to CHF 61 million (previous year: CHF 51 million). Other income from guaranteed benefits and commissions increased to CHF 47 million (previous year: CHF 41 million), while income from investments in bonds and fund units amounted to CHF 12 million (previous year: CHF 13 million). By contrast, personnel costs, operating costs and taxes amounted to CHF 50 million (previous year: CHF 23 million). Interest on long-term debt capital totalled CHF 54 million in the year under review (previous year: CHF 53 million).

Capital assets (excluding participations) increased to CHF 3.4 billion (previous year: CHF 2.7 billion). At the end of the year, Swiss Life Holding held current assets, debt securities and investment funds of CHF 1.0 billion (previous year: CHF 876 million). Loans to Group companies increased to CHF 2.5 billion (previous year: CHF 1.9 billion).

Long-term debt capital rose to CHF 2.8 billion (previous year: CHF 2.2 billion). In April 2024, Swiss Life Holding placed a new bond in three tranches with a total volume of CHF 600 million. These funds were granted to Swiss Life Ltd in the form of a loan, with a large portion of the amount being used to refinance issued bonds.

A share buyback programme in the amount of CHF 300 million launched in October 2023 was concluded in the year under review. Swiss Life Holding acquired a total of 502 081 shares under the programme. A total of 790 368 shares repurchased under share buyback programmes were cancelled during the year under review. This means that the number of shares issued decreased to 28 727 519, of which Swiss Life Holding held 0.69% at the end of the reporting period.

At its Investor Day on 3 December 2024, Swiss Life announced a new share buyback programme in the amount of CHF 750 million. This started on 9 December 2024 and will run until the end of May 2026. In the 2024 financial year, 57 187 shares worth CHF 39 million were repurchased under this programme.

Swiss Life Holding’s distribution to shareholders in 2024 was made as an ordinary dividend and amounted to CHF 945 million or CHF 33.00 per share. Swiss Life Holding’s nominal share capital remained practically unchanged at CHF 3 million.