Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on SWISS LIFE HOLDING AG-REG. We currently have 6 research reports from 1 professional analysts.
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SWISS LIFE HOLDING AG-REG
SWISS LIFE HOLDING AG-REG
Limited 9M 16 information
09 Nov 16
Group premium income decreased by 8% to CHF13.4bn in 9M 16 compared to the same period last year. Premium income declined by 6% to CHF8.2bn in the Swiss home market, the most important market (60% share) for the group in the same period. Premium income was down in local currency by 6% to CHF3.3bn in France and down by 5% to CHF905m in Germany. Premiums of the Insurance International segment fall by 40% in local currency to CHF1.0bn. Fee and commission income rose by 5% to CHF974m for 9M 16. The group’s Swiss solvency ratio (SST) was above 140% at the end of September 2016 compared to around 140% at the end of 2015. The non-annualised RoI was 2.3% for 9M 16, at the same level as for the same period last year. Profit figures were not released. Swiss Life has half-year reporting.
Slightly better H1 16 earnings
11 Aug 16
Pre-tax profit increased by 3% to CHF644m for H1 16 compared to the same period last year. Net earned premiums were down by 4% to CHF8.2bn for H1 16. Investment income rose by 2% to CHF2.2bn for H1 16. Total income declined by 6% to CHF11.4bn for H1 16 compared to H1 15. Total expenses decreased by 7% to CHF10.7bn. Net profit attributable to common shares was up by 2% to CHF499m for H1 16 compared to H1 15. Shareholders’ equity rose by 18% to CHF14.3bn at end June 2016 compared to the previous year-end mainly due to higher unrealised gains. The SST ratio was 146% and the Solvency II ratio was above 200% at January 2016.
Weak start in Switzerland
12 May 16
Swiss Life released a Q1 statement with limited information (no income statement or balance sheet) and not a Q1 report. Premium income decreased by 10% to CHF6.7bn in Q1 16 compared to the same period last year. The core market, Switzerland, was down by 9%. Premium income of France and Germany was mainly unchanged whereas International was down by 41%. Fee income rose by 5% to CHF332m for Q1 16 compared to Q1 15. Swiss Life posted a non-annualised RoI of 0.7% for Q1 16 compared to 0.9% for Q1 15. Swiss Life said it expects a RoI of at least 3% for FY2016. Swiss Life had an SST ratio of 146% at 1 January 2016. Net new asset inflows came to CHF2.3bn in Q1 16 compared CHF1.5bn in Q1 15. Profit figures were not released. Swiss Life has half-year reporting.
Good FY2015 figures
01 Mar 16
Preliminary pre-tax profit increased by 15% to CHF1.17bn for 2015. Net earned premiums were flat at CHF13.8bn for 2015 compared to 2014 and up by 5% in local currency. Investment income was up by 1% to CHF5.2bn in 2015. RoI was 3.7% for 2015 compared to 3.8% in 2014. Total income rose by 0.4% to CHF20.55bn in 2015. Total expenses declined by 0.5% to CHF19.2bn in 2015. The tax ratio increased from 19% for FY2014 to 25% for FY2015. The net profit attributable to shareholders rose by 7% to CHF872m in 2015 compared to 2014. Assets under management grew by 1% overall to CHF185bn, of which CHF38.87bn was attributable to investment business with external customers, as Swiss Life generated net new asset inflows of CHF7.2bn for 2015 compared to CHF4.5bn for 2014. Shareholders’ equity was down by 5% to CHF12.2bn at the end of 2015 compared to the previous year-end mainly due to lower unrealised gains (-CHF927bn) and negative currency effects. The RoE was 7.0% for 2015. The RoE was 9.7% for FY2015 compared to 9.6% for FY2014 on a company adjusted basis. Swiss Life expects its SST ratio to be around 140% as of 1 January 2016 (based on the internal model approved with conditions). The dividend proposal rose from CHF6.50 for FY2014 to CHF8.50 per share for FY2015.
Limited 9M 15 information
12 Nov 15
Group premium income increased by 7% in local currency or 1% in CHF to CHF14.6bn in 9M 15 compared to the same period last year. Premium income rose by 6% to CHF8.7bn in the Swiss home market, the most important market (60% share) for the group in the same period. Premium income was up in local currency by 6% to CHF3.36bn in France and down by 6% to CHF930m in Germany. Premiums of the Insurance International segment rose by 30% in local currency to CHF1.64bn. The group’s solvency ratio was 257% at the end of September 2015 compared to 252% at the end of June 2015 and 269% at the end of 2014. The non-annualised RoI was 2.3% for 9M 15 compared to 2.9% for the same period last year. Profit figures were not released. Swiss Life has half-year reporting.
Slightly better H1 15 figures
14 Aug 15
Pre-tax profit increased by 4% to CHF623m for H1 15 compared to the same period last year. Net earned premiums were up by 2% to CHF8.6bn for H1 15. Investment income declined by 2% to CHF2.2bn for H1 15. Overall financial result rose by 3% to CHF2.7bn. Total income was up by 5% to CHF12.2bn for H1 15. Total expenses increased by 5% to CHF11.5bn. Net profit attributable to common shares increased by 1% to CHF493m for H1 15 compared to H1 14. Net profit was up by 5% in H1 15 adjusted for forex effects said Swiss Life. Shareholders’ equity declined by 8% to CHF11.8bn at end June 2015 compared to the previous year-end mainly due to lower unrealised gains and forex effects. The group's solvency ratio was therefore 252% at the end of June 2015 compared to 269% at the end of 2014.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.
10 for 17
09 Jan 17
As always at the start of a year, there are significant uncertainties about the year ahead but I think in 2017, the level of uncertainly has decisively moved up a gear. In fact, a leading economist at the LSE, Ethan Ilzetzki, was recently quoted as saying “I view the current global economic environment as the most uncertain in modern history”. Wow.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Conviction List Q1 2017
05 Jan 17
Since its inception in 2010, the Conviction List has outperformed the market in 11 of 19 periods and a reinvested Conviction List would have returned 260% against a Small Companies index that would have returned 194%. Our Conviction List returned 0.4% over the last quarter; this was set against the benchmark UK Small Companies index that returned 4.0% over the same period.