The Swiss Life Group is on track to achieve its goals for 2008. Rolf Dörig, Group CEO: “Over the last few years we have become a focused European life insurer. We have an attractive business portfolio that we can continue to expand. For 2006, we expect total gross written premiums of approx. CHF 21.5 billion. The growth momentum is continuing abroad. In Switzerland, we are strengthening our leadership position and improving our profitability.”
Holistic ALM adds value and protects capital
At Investors’ Day, Thomas Müller, Group Chief Financial Officer, and Hans-Jürgen Wolter, Group Chief Risk Officer, illustrate how the holistic approach to asset and liability management (ALM) creates added value and protects capital. The improved capital structure increases the flexibility to implement tactical measures on the assets side. With regard to interest-rate risks, the management of the duration gap between assets and liabilities is decisive. In this connection, Swiss Life lengthened the asset duration from 30 June 2006 in response to interest-rate developments and thus shortened the duration gap by two years. Furthermore, under the holistic ALM approach, asset allocation differentiates by product line to a greater extent, thereby facilitating an optimization of the equity ratio. As a result, the Swiss Life Group’s equity exposure may exceed the previous target range (0% to 7%) in future. It is currently in the upper half of the previous target range. In addition, the principles of holistic ALM already correspond with those of the Swiss Solvency Test.
International markets: Maintain growth momentum
Bruno Pfister, CEO International, provides an overview of current initiatives with regard to the strategic directions of growth and efficiency in the international markets. Outside Switzerland, Swiss Life is focusing on product innovations and expanding its multichannel distribution in order to cover the needs of affluent and high-net-worth individuals, as well as of the self-employed and corporates. Swiss Life is thus better positioned to seize the growth opportunities produced by demographic evolution and the pressure on state pension systems. Moreover, further efficiency enhancements are planned, along with the strengthening of international cooperation. Jacques Richier, CEO France, takes the French market – where higher premium volume than in the Swiss domestic market is expected in 2007 for the first time - as an example of how Swiss Life stands to gain from clear customer segmentation, well diversified, high-performance distribution channels, attractive products and efficient operations. Swiss Life in France achieves profitable growth that is clearly above the market average.
Switzerland: Strengthen leadership position
In their presentation, Paul Müller, CEO Switzerland, and Martin Suter, Head of Finance and Actuarial Services (Market Switzerland), clearly show that the goal of improving income in Switzerland will be achieved. They indicate how Swiss Life can consolidate its position as the leading provider of pensions and increase profitability in its domestic market on a sustainable basis by increasing the effectiveness of distribution channels, significantly improving efficiency, targeted marketing of customer segments in which Swiss Life has a below-average representation, and needs-oriented product innovations.
All these presentations and further information on Investors' Day are available on www.swisslife.com:
Info Kit Investors' Day 2006
Phone +41 43 284 77 77
Phone +41 43 284 52 76
The Swiss Life Group is one of Europe's leading providers of pension and life insurance products. The Swiss Life Group offers individuals and companies comprehensive advice across a broad range of products via agents, brokers and banks in its domestic market, Switzerland, where it is market leader, and selected European markets. Multinational companies are serviced with tailor-made solutions by a network of partners in over 60 countries. With the Banca del Gottardo, the Swiss Life Group is also a provider of private banking services. The bank, headquartered in Lugano, has an extended national and international network of offices and around CHF 34 billion in customer assets under management.
Swiss Life Holding, registered in Zurich, dates back to the Swiss Life Insurance and Pension Company founded in 1857. Shares of Swiss Life Holding are listed on the SWX Swiss Exchange (SLHN). The Swiss Life Group employs a staff of around 9 000.
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.