The Swiss life insurer increased revenues in the first nine months of the year 2018, with premium growth particularly strong in one of the neighboring countries.
Swiss Life had higher fee and premium income in the first nine months compared with last year, the company said in a statement on Wednesday (in German). Premiums were up 4 percent from a year ago, reaching 14.7 billion Swiss francs ($14.7 billion). Fee income was 1.2 billion francs.
Growth was stronger than on average in France, with an increase of 11 percent, Swiss Life said. In Switzerland, where volumes are higher than in other markets, the company added 3 percent.
Optimistic Outlook for Full Year
CEO Patrick Frost is optimistic to reach or even surpass the targets the company has set for the year. It will present its new strategy for the years following 2018 on November 29.
Net new assets amounted to 5.2 billion francs, boosting assets under management to 66.3 billion (up from 61.4 billion at the end of 2017). The asset management division generated a non-annualized investment return of 2.2 percent, which was unchanged from a year earlier.
