Germany

Swiss Life Germany is a leading provider of insurance and pension solutions in the fields of life insurance, occupational pensions and employee insurance. The company also offers comprehensive financial and pension advice independent of product provider under its Swiss Life Select, Tecis, Horbach and Proventus brands. The segment information covers both local insurance activities and the activities of the financial advisory companies headquartered in Germany.

Despite a challenging and volatile market environment, Swiss Life Germany successfully increased its segment result to CHF 192 million (previous year: CHF 184 million). This is mainly due to the fee result, which increased to CHF 120 million (previous year: CHF 115 million). The positive performance of the insurance business also contributed to the overall result, which rose from CHF 69 million in the previous year to CHF 73 million.

Swiss Life Germany further expanded its advisory business in 2025 and increased fee income to CHF 827 million (previous year: CHF 783 million), thanks in particular to productivity increases and growth in the areas of retirement provisions, financing and investment.

The premium volume rose by 2% in local currency to CHF 1.4 billion. Swiss Life Germany’s strategic focus was directed almost exclusively towards regular premiums, where the company recorded growth significantly above the market average.

The cash remittance increased slightly to CHF 100 million (previous year: CHF 99 million), supported by higher remittances from the owned IFAs.

Operating expenses rose by 3% in local currency, reflecting the implementation of a range of growth initiatives. In 2025, investment spending included allocations to the “Swiss Life 2027” Group-wide programme. Swiss Life Germany has laid a strong foundation for the new Group-wide programme. Initial milestones have already been achieved in the defined focus areas – developing a modern, customer-centric advisory platform, expanding the personal and digital financial advisory offering, modernising information technology and strengthening product portfolios.

Key figures for Germany