Swiss Life increases fee and commission revenue by 11% in the first quarter of 2024

Swiss Life Holding AG announced an 11% increase in revenue from fees and commissions, reaching 639 million francs in the first quarter of 2024. Premium revenue stood at 7.5 billion francs, marking growth of 2% in local currency.

“Swiss Life has had a good start to the 2024 financial year,” said Matthias Aellig, CEO of the group. The increase in fee and commission revenue is attributed to consulting activities and third-party products and services. In France, premiums increased by 9%, while in Germany they gained 4%.

Swiss Life Asset Managers benefited from an increase in assets under management, standing at 117.1 billion francs at the end of March 2024. Direct investment income reached 1,024 million francs, compared to 937 million the previous year.

Swiss Life's SST ratio stood at around 210% as of March 31, 2024, well above the strategic ambition set between 140% and 190%. The group appears to be on track to meet its annual financial targets.