As a result of the new strategic direction pursued by the Swiss Life Group, Swiss Life Property and Swiss Life Real Estate Partners, both of which are active in real estate portfolio management, will be merged. This will permit the streamlining of portfolio management structures in the real estate sector and the elimination of duplication. The reorganisation will involve the loss of ten jobs, which will be achieved essentially through natural turnover and early retirement.
Swiss Life has decided not to open up the group of real estate investment companies known collectively as SWISSVILLE to third parties, as was originally planned when it was founded in 2000. This decision has been taken in the context of Swiss Life's strategic realignment and the associated move to a more conservative investment strategy. The importance of real estate in the investment portfolio has risen sharply as a result of low interest rates and the reduction in our equity exposure. Instead of making the attractive real estate portfolio of the SWISSVILLE companies (currently comprising 101 properties, including building projects, and worth CHF 2 billion) available to third parties within the framework of an investment company, it will remain entirely in the hands of Swiss Life.
This decision entails the merger of Swiss Life Real Estate Partners (SLREP), Zug, a 100% subsidiary of Swiss Life, with Swiss Life's property unit in Zurich, along with the transfer of SLREP's 24 members of staff to the restructured business area. These changes will enable the company to simplify processes and avoid duplication. The reorganisation involves the loss of ten jobs, which will be achieved essentially through natural turnover and early retirement.
Real estate and mortgages play an important role in Swiss Life's investment portfolio. With a total of 45 000 rented properties, including 24 000 apartments, Swiss Life is one of the largest private property owners in Switzerland. The properties include office buildings at prime locations in all parts of the country, such as those belonging to the former Oscar Weber Holding (EPA department stores). This latter acquisition by SWISSVILLE in the summer of 2001 sustainably improved the structure of the real estate portfolio.
Swiss Life
The Swiss Life Group is one of Europe's leading providers of long-term savings and protection and life insurance. Swiss Life offers comprehensive advice across a broad range of products via agents, brokers and banks in both its domestic market, Switzerland, where the company is market leader, and selected European markets. Multinational companies are serviced with tailor-made solutions by a network of partners in over fifty countries.
The Swiss Life Group, registered in Zurich, was founded in 1857 as the Swiss Life Insurance and Pension Company. The shares of Swiss Life Holding are listed on the SWX Swiss Exchange (SLHN). The company employs around 12,000 members of staff.
This decision entails the merger of Swiss Life Real Estate Partners (SLREP), Zug, a 100% subsidiary of Swiss Life, with Swiss Life's property unit in Zurich, along with the transfer of SLREP's 24 members of staff to the restructured business area. These changes will enable the company to simplify processes and avoid duplication. The reorganisation involves the loss of ten jobs, which will be achieved essentially through natural turnover and early retirement.
Real estate and mortgages play an important role in Swiss Life's investment portfolio. With a total of 45 000 rented properties, including 24 000 apartments, Swiss Life is one of the largest private property owners in Switzerland. The properties include office buildings at prime locations in all parts of the country, such as those belonging to the former Oscar Weber Holding (EPA department stores). This latter acquisition by SWISSVILLE in the summer of 2001 sustainably improved the structure of the real estate portfolio.
Swiss Life
The Swiss Life Group is one of Europe's leading providers of long-term savings and protection and life insurance. Swiss Life offers comprehensive advice across a broad range of products via agents, brokers and banks in both its domestic market, Switzerland, where the company is market leader, and selected European markets. Multinational companies are serviced with tailor-made solutions by a network of partners in over fifty countries.
The Swiss Life Group, registered in Zurich, was founded in 1857 as the Swiss Life Insurance and Pension Company. The shares of Swiss Life Holding are listed on the SWX Swiss Exchange (SLHN). The company employs around 12,000 members of staff.
Cautionary statement regarding forward-looking information
This publication contains specific forward-looking statements, e.g. statements including terms like “believe”, “assume”, “expect” or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
This publication contains specific forward-looking statements, e.g. statements including terms like “believe”, “assume”, “expect” or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.