Vaudoise, a Swiss-based insurer, has had a difficult 2016, with a decline in investment yields and a slight drop in profit as a consequence.
Vaudoise, the insurance company with its headquarters in Lausanne, said profit in 2016 dropped to 124.8 million Swiss francs from 128.8 million a year earlier.
Premiums at the life-insurance business declined 23 percent to 200.1 million francs. In non-life, Vaudoise grew faster than the market, not least because of its acquisition of Animalia in June. Premiums added 5.6 percent to 876.2 million. The combined ratio improved 2.2 basis points to 93.4 percent.
Unchanged Dividend
The insurer struggled to maintain its investment yields in the current environment of low interest rates and a volatile stock exchange. The net yield of the group dropped to 3.15 percent from 3.5 percent a year earlier.
The board of Vaudoise will propose to pay a dividend of 12 francs per share, unchanged from the two previous years.
