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In the first quarter of 2023, the finance group again made more money with financial advice, such as asset management for pension funds or the sale of investment-linked pension products.
Fee revenue, which Swiss Life refers to as generated fees, rose 3 percent in the first quarter to CHF 595 million. Swiss Life announced Thursday that the increase will be 7 percent when calculated in local currencies. The group performed slightly worse than expected by analysts.
The group’s premium income increased by 10 percent in the first three months to reach CHF 7.53 billion, well above expectations. It rose 11 percent in local currencies. In the international unit, a strong premium increase was achieved with the takeover.
CEO Patrick Frost said in a statement that Swiss Life has made a good start to the 2023 fiscal year. The mortar business is broad-based, with a decline in real estate transactions in Europe leading to lower income. Meanwhile, the group is on track with its corporate program “Swiss Life 2024”.
(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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