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Specifically, profit in 2022 was 548 million francs, down 6.9 percent from the previous year, as the group announced on Thursday. The operating business resulted in an operating profit (EBIT) of 705 million. This means a decrease of 2.4 percent. The company ended up slightly worse than analysts expected.
The insurer plans to pay a dividend of CHF 7.40 to shareholders, an increase of CHF 0.40 per share. Management estimates the solvency ratio at 230 percent based on the Swiss Solvency Test (SST). This means that the insurer’s capitalization remains at a strong level.
The combined rate in non-life insurances decreased by 1.4 percentage points to 91.9 percent. This is primarily due to one-off effects, primarily inflationary reserve increases. However, the rate is still well below 100 percent and thus in the profitable range.
EBITDA in the life business fell 7.4 percent to CHF 376.7 million. However, the 2021 value was extraordinarily high due to a very positive capital market development.
Business volume decreased by 8.7 percent to CHF 8.76 billion due to the low premium volume in the traditional life business and negative exchange rate effects.
“Simply Safe: Season 2” is underway and is said to be off to a good start. The goal is to further grow 1.5 million customers by 2025.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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