Swiss Life grows premium income by 7% to CHF 14.6 billion

"I am pleased to report that Swiss Life continued its first half-year's positive business performance in the third quarter of 2015. Our business model is paying off in the ongoing challenging environment," says PatrickFrost, GroupCEO. "This provides us with a strong basis for our plans for the coming years that we will present at the Investors' Day at the end of November."

Premium growth and increased fee and commission income

The SwissLife Group recorded premium income of CHF 14.6 billion in the first three quarters of 2015, which corresponds to 7% year-on-year growth in local currency. Altogether SwissLife generated fee and commission income of CHF929million in the first three quarters of 2015, which corresponds to a rise in local currency of 14% compared with the previous year.

A key contribution to the premium growth was made by the home market of Switzerland, where premium income increased by 6% to CHF8.7billion in the first nine months. The group life business grew by 7%, while the individual life business remained virtually unchanged relative to the previous year (-1%). In France SwissLife achieved an increase in local currency of 6% to CHF3.4billion. Thanks to growth of 12% in the life business with a 59% unit-linked share in new business, premium quality was enhanced further. SwissLife in Germany posted premium income of CHF930million in the first three quarters of 2015 (-6% year on year in local currency). The International market unit achieved a 30% increase in premium volume in local currency to CHF1.6billion. SwissLife AssetManagers posted new net assets in its external customer business of CHF5.1billion in the first nine months of the year and increased assets under management for external customers to CHF36.6billion.

Net investment result and Group solvency ratio

Swiss Life generated direct investment income of CHF3.3billion (previous year: CHF3.3billion) in the first three quarters of 2015. Altogether the non-annualised direct investment yield as at 30September2015 stood at 2.3% (previous year: 2.5%) and the non-annualised net investment result at 2.6% (previous year: 2.9%). Group Solvency I as at 30September2015 increased by 5percentage points to 257% from half-year 2015.

ThomasBuess, GroupCFO, will hold a telephone conference in English for financial analysts and investors at 10 a.m.(CET) today. Please dial in ten minutes before the conference begins.

Gross written premiums, policy fees and deposits received as at 30 September 2015

(1) Total contains intersegment eliminations and reinsurance of CHF‑43m in YTD2015, CHF‑48m in YTD2014.

(2) Total contains intersegment eliminations and reinsurance of CHF‑14m in Q32015, CHF‑15m in Q32014.

Information

Media Relations

Phone +41 43 284 77 77

media.relations@swisslife.ch

Investor Relations

Phone +41 43 284 52 76

investor.relations@swisslife.ch

www.swisslife.com

Further information

All our media releases can be found at swisslife.com/mediareleases

Swiss Life in 3 minutes (video)

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, by their nature, are subject to known and unknown risks, uncertainties and other important factors. These may result in a substantial divergence between the actual results, developments and expectations of Swiss Life and those explicitly or implicitly described in these forward-looking statements. Given these uncertainties, the reader is reminded that these statements are merely projections and should not be overvalued. Neither SwissLife nor its Members of the Board of Directors, executive managers, managers, employees or external advisors nor any other person associated with Swiss Life or with any other relationship to the company makes any express or implied representation or warranty as to the correctness or completeness of the information contained in this publication. SwissLife and the abovementioned persons shall not be liable under any circumstances for any direct or indirect loss resulting from the use of this information. Furthermore, Swiss Life undertakes no obligation to publicly update or change any of these forward-looking statements, or to adjust them to reflect new information, future events, developments or similar.

Swiss Life

The Swiss Life Group is one of Europe's leading comprehensive life and pensions and financial solutions providers. In its core markets of Switzerland, France and Germany, Swiss Life offers individuals and corporations comprehensive and individual advice plus a broad range of own and partner products through its sales force and distribution partners such as brokers and banks.

Swiss Life Select, tecis, Horbach, Proventus and Chase de Vere advisors choose suitable products for customers from the market according to the Best Select approach. Swiss Life Asset Managers offers institutional and private investors access to investment and asset management solutions. Swiss Life provides multinational corporations with employee benefits solutions and high net worth individuals with structured life and pensions products.

Swiss Life Holding Ltd, registered in Zurich, was founded in 1857 as Schweizerische Rentenanstalt. The shares of Swiss Life Holding Ltd are listed on the SIX Swiss Exchange (SLHN). The two subsidiaries Livit and Corpus Sireo are also part of the Swiss Life Group. The Group employs a workforce of around 7500 and approximately 4500 certified financial advisors.