In the words of Rolf Dörig, Chief Executive Officer of the Swiss Life Group: "We want to focus all our energy on the core markets of Switzerland, France, Germany, the Netherlands and Belgium/Luxembourg and to restore profitability. With the divestment of Swiss Life (España) we have taken a further step in this direction. Not only have we found a good buyer in VidaCaixa, but also an ideal solution for the Swiss Life Network, which services major international clients."
By acquiring Swiss Life (España), VidaCaixa will strengthen its position in the occupational life and pensions business and will continue to establish itself as one of the leading providers of long-term savings and retirement solutions for companies. Since Swiss Life (España) also has very good relations with over 700 insurance brokers and consultants, VidaCaixa will be able to further expand its multi-channel distribution capability. Swiss Life (España), which specialises in occupational life and pensions business, generated a premium volume of EUR 306 million in 2002 and employs a workforce of around 120 at its sites in Madrid, Barcelona, Bilbao and Valencia.
The Swiss Life Group is one of Europe's leading providers of life insurance and long-term savings and protection. The Swiss Life Group offers individuals and companies comprehensive advice and 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 fifty countries.
Swiss Life Holding, registered in Zurich, was founded in 1857 as the Swiss Life Insurance and Pension Company. Shares of Swiss Life Holding are listed on the SWX Swiss Exchange (SLHN). The enterprise employs around 11 000 people worldwide.
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.