Swiss Life Holding AG (XSWX:SLHN)
CHF 696.6 8.2 (1.19%) Market Cap: 19.33 Bil Enterprise Value: 23.84 Bil PE Ratio: 18.58 PB Ratio: 2.52 GF Score: 51/100
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Half Year 2024 Swiss Life Holding AG Earnings Call Transcript

Sep 03, 2024 / 07:00AM GMT
Release Date Price: CHF695.4 (+1.10%)
Matthias Aellig
Swiss Life Holding AG - Group Chief Executive Officer

Good morning. Thank you for taking the time to join us today, and welcome to our conference call on the 2024 half-year results.

Let me start with a quick overview on slide 3. Our CFO, Marco Gerussi, will then comment on our performance in more detail. I'm very pleased with the development of Swiss Life in the first six months of 2024. First, fee result increased by 17% to CHF395 million, driven by higher contributions from asset managers and France. Second, cash remittance grew by 19% to well over CHF1.2 billion.

This is a very pleasing figure. The fact that the full year 2023 call, it includes two positive one-off effects of about CHF0.12 billion. Taking the past 2.5 years of cash remittances together, we arrive at a cumulative remittance of CHF3.4 billion.

We have thus already exceeded our cumulative target of CHF2.8 billion to CHF3 billion. This is a strong achievement. Our business divisions have done a great job navigating the changes in the interest rate environment. Third, the annualized return on

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