timid growth in premiums in the first quarter.

Premiums stagnated in Switzerland and Germany, but rose in France (archives).

TTY

Swiss Life marginally increased its premium volume in the first three months of 2022 by 1% to 6.86 billion francs. Reported in local currencies, the growth of the life insurer was 3%.

Income from fees and commissions, on the other hand, jumped 14% to 579 million. Direct investment income remained stable at nearly CHF 1 billion.

In asset management for third parties (TPAM business), net inflows fell by more than half year-on-year, to reach 1.23 billion. The assets under management of Swiss Life Asset Management eroded by 1% over three months, to 102.27 billion.

The performance turns out to be contrasted with regard to the projections of the analysts consulted by AWP, who anticipated more bonuses but less gains on commissions.

Notwithstanding a stagnation in premiums at 4.32 billion, the Swiss market remained by far the leading provider of premiums for Swiss Life. Business also slipped in Germany, where premium volume remained stable at 390 million. The important French outlet shows an increase of 2% to 1.88 billion, when the rest of the world shows a decline of 2% to 272 million.

Without venturing into the field of concrete prospects for the entire financial year, the management expresses its ambition to maintain the solvency ratio (SST) of the company around 223% noted at the start of the year.

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